Asian Development Bank Governor Asakawa said he was prepared to provide new loans to bail out troubled Sri Lanka.
This is what Masatsugu Asakawa, the president of the Asian Development Bank, answered in an interview with NHK in the Philippines on the 20th.
The Asian Development Bank has so far approved $200 million in emergency assistance loans for Sri Lanka to alleviate the food crisis.
Governor Asakawa stated that on the condition that the support program of about 2.9 billion dollars agreed at the working level between Sri Lanka and the International Monetary Fund (IMF) is officially decided, "The Asian Development Bank will also use the new funds to create a relief package. I think I will be able to participate in , ”he said, revealing that he is ready to make new loans for the bailout.
On the other hand, Governor Asakawa said regarding Sri Lanka's debt, "It is important to have discussions while ensuring transparency, such as what kind of funds are borrowed from which countries and at what amounts." Bearing in mind that hidden debts have been pointed out, he expressed his recognition that it is necessary for Sri Lanka itself to ensure the transparency of its debts.
The Asian Development Bank predicts that Sri Lanka's economic growth rate will drop sharply to minus 8.8%.