Manila, Nov 20 (SocialNews.XYZ) The Asian Development Bank (ADB) approved a policy-based loan of $200 million to help Sri Lanka strengthen its financial sector.
On Tuesday, the ADB said that the second subprogram of its Financial Sector Stability and Reforms Program built on the stabilisation and crisis management measures put in place under the first subprogram approved in 2023, Xinhua news agency reported.
Policy reforms under the second subprogram will improve the Central Bank of Sri Lanka's (CBSL) regulatory supervision of banks to ensure financial stability.
The move included an improved early warning system to identify banks' weakening processes and introduce corrective actions, the Manila-based bank said.
According to the ADB, the CBSL will implement a new stress testing model to monitor solvency issues and liquidity stresses.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz