ADB Approves $98 Million Loan to Advance Digital Transformation in Sri Lanka

Why in the News?

The **Asian Development Bank (ADB)** has approved a **$98 million loan** to support Sri Lanka’s efforts in building an inclusive, secure, and resilient digital economy.

Key Features / Major Points:

- Advancing Digital Transformation Project:

- Designed to expand high-quality broadband connectivity and upgrade government data infrastructure.

- Aims to enhance digital inclusion and equity by broadening access to digital government services for citizens and enterprises, particularly women and underserved communities.

- Addressing Digital Gaps:

- Tackles uneven high-speed broadband availability in rural areas, alongside addressing gaps in cybersecurity, data protection, and digital skills.

- Leadership Perspective:

- ADB Country Director for Sri Lanka, **Shannon Cowlin**, noted that Sri Lanka has made strong progress in economic stabilization and is now prioritizing digital transformation for inclusive growth.

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Static GK Facts:

- Asian Development Bank (ADB):

- Established: **December 19, 1966** | Headquarters: **Mandaluyong, Metro Manila, Philippines**.

- Total Membership: **69 members** (50 from the region).

- Democratic Socialist Republic of Sri Lanka:

- Capital: Sri Jayawardenepura Kotte | Currency: **Sri Lankan Rupee**.

One-Liner Quiz (All Competitive Exams):

Q: Which international financial institution approved a $98 million loan for digital transformation in Sri Lanka?

A: Asian Development Bank (ADB)

Q: In which year was the Asian Development Bank (ADB) founded?

A: 1966 (Headquarters: Manila, Philippines)

Q: Who is the ADB Country Director for Sri Lanka?

A: Shannon Cowlin

#ADB #SriLanka #DigitalTransformation #BroadbandConnectivity #InternationalRelations #CurrentAffairs #StaticGK