Sri Lanka, ADB Map Out Development Priorities for 2026–2029
COLOMBO, October 6, 2026 — Sri Lanka and the Asian Development Bank (ADB) have begun discussions on a multi-year development programme for 2026–2029, with the government seeking to prioritise projects that can accelerate economic development while supporting fiscal targets and making more effective use of limited concessional financing.
A special high-level meeting was held at the Presidential Secretariat, co-chaired by Secretary to the President Dr. Nandika Sanath Kumanayake and ADB Country Director for Sri Lanka Shannon Cowlin, ahead of the ADB programme review scheduled for October 5 and 6 to assess preparations for the Bank’s 2027 annual programme.
The discussions focused on identifying priority development projects for inclusion in the ADB’s longer-term project pipeline, potentially shaping the direction of development financing and technical assistance available to Sri Lanka over the coming years.
A key focus was strengthening government ownership of ADB-funded programmes, while improving coordination between government processes and ADB procedures to ensure projects are implemented efficiently and deliver measurable economic outcomes.
Officials also examined ways to maximise the impact of limited concessional financial resources and technical assistance, with emphasis on directing available support towards projects capable of generating significant development and economic benefits.
The meeting further addressed challenges facing Sri Lanka in accelerating development and achieving fiscal targets, including the need for more efficient implementation mechanisms and stronger coordination among government institutions and development partners.
The 2026–2029 planning process comes as Sri Lanka continues its economic recovery and seeks to strengthen public finances while maintaining investment in infrastructure, human capital and productive sectors.
The outcome of the discussions is expected to help shape the government’s priorities for ADB-supported programmes and provide a framework for development cooperation over the medium term.
Additional Secretary to the President W. D. R. Krishantha, Senior Assistant Secretary to the President Dr. Danushka Perera, along with senior ADB officials, also participated in the discussions.
