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ADB Pledges Continued Long-Term Support for Sri Lanka in Presidential Meeting
Newly appointed Country Director of the Asian Development Bank (ADB) for Sri Lanka, Ms. Shannon Cowlin, visited President Anura Kumara Dissanayake at the Presidential Secretariat this afternoon, reaffirming ADB’s ongoing commitment to supporting Sri Lanka’s developmental goals. This meeting served as the formal introduction of Ms. Cowlin as the ADB Country Director for Sri Lanka.
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Industry Expert Highlights Persistent Slowdown in Sri Lanka’s Construction Sector
Despite optimistic reports from authorities, Sri Lanka’s construction sector has yet to fully recover from the 2022 crisis, according to an industry expert. The sector experienced a contraction of 20.8 percent in 2023 following a 20 percent collapse in 2022, which was driven by an economic crisis and sharp currency depreciation that increased construction costs
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