ADB Chief highlights private sector investment as key to Sri Lanka s growth

Masato Kanda, the President of the Asian Development Bank (ADB), is currently visiting Sri Lanka. He stressed the importance of private sector investment for the country's future economic growth after a meeting with business leaders in Colombo. Kanda shared on X (formerly Twitter) that they talked a lot about the main challenges and new investment chances in Sri Lanka. He pointed out that Sri Lanka is changing its economic approach to focus more on productivity, exports, and private sector investment. Kanda also mentioned that the ADB is concentrating on private sector development throughout the investment process. This includes helping with regulatory changes, preparing projects that can attract funding, and using risk-sharing tools to draw in private capital. He concluded by saying, "That is why our exchange was so critical. Together, we will turn investment into growth."