The Asian Development Bank (ADB) has approved $100 million in financing to strengthen social protection, economic inclusion and resilience among low-income households and elderly people in Sri Lanka.
The financing comprises a $50 million policy-based loan and a $50 million project loan under the Promoting Resilience and Opportunity for Inclusive Recovery Sector Development Programme.
The programme aims to expand livelihood and employment opportunities for low-income households, improve eldercare services and strengthen the responsiveness of Sri Lanka’s social protection system.
ADB Country Director for Sri Lanka Shannon Cowlin said the initiative would help ensure that the country’s economic recovery translates into meaningful improvements in the lives of vulnerable communities.
Despite ongoing economic recovery, poverty and vulnerability remain significant challenges, particularly for women, young people, elderly individuals, persons with disabilities and communities in rural and disadvantaged areas.
The programme will address these challenges through policy reforms, institutional strengthening and targeted investments.
Under the government’s National Empowerment Programme, the initiative will support 30,000 households identified through the Aswesuma social registry across six districts. Assistance will include livelihood grants, employment and business support, skills development, financial literacy training and improved access to reliable markets.
The programme will also strengthen the policy and regulatory framework for eldercare services.
In addition, five model elderly day care centres will be established in poorer districts to provide integrated support services and demonstrate approaches that could be expanded nationwide.
The initiative is expected to strengthen social protection mechanisms and improve access to livelihood opportunities and essential support services for vulnerable communities across Sri Lanka.
