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Cabinet approves proposal to obtain USD 200mn from ADB

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The Cabinet has approved a proposal to obtain an amount of USD 200 million from the Asian Development Bank (ADB) subject to an annual interest rate of 2%.

Initial discussions between the ADB and the Sri Lankan Government were held to obtain two loan facilities worth USD 200 million each based on policies to implement two sub-programmes under the economic stabilization and reformation programme. 

It has been proposed to implement accelerated reformations to enhance the conflict management framework and the stabilization in the finance sector under the first sub-programme while it has been proposed to develop an all-inclusive resistant finance system under the second sub-programme. 

Accordingly, the proposal submitted by the President as the Minister of Finance, to enter into a loan agreement with the ADB to obtain USD 200 million with a repaying period of 25 years inclusive of a grace period of 05 years in relation to the first sub-programme, was approved by the Cabinet.

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Govt to present 2026 Appropriation Bill in October

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Cabinet approval has been granted to a proposal presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance , Planning and Economic Development to present the Appropriation Bill for the year 2026 to Parliament in October 2025.

Approval has also been granted to present the Budget speech in November 2025 and to hold the third reading and budget debate during November and December.

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This week’s Cabinet decisions

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A number of decisions have been taken at the Cabinet meeting held yesterday (July 01).

The decisions taken by the Cabinet of Ministers are as follows :

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Yoshitha & Daisy Forrest indicted & bailed

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Former President Mahinda Rajapaksa’s son – Yoshitha Rajapaksa, and his grandmother – Daisy Forrest have been formally indicted today (July 02) before the Colombo High Court under the Prevention of Money Laundering Act.

The indictment was presented before High Court Judge Pradeep Abeyratne, who subsequently ordered both defendants to be released on two surety bonds of Rs. 01 million each.

The judge further ordered to obtain fingerprints of the accused and relevant records be summoned as part of the judicial process.

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