Sajith Discusses the Economic Situation with the Asian Development Bank

19-Oct-2025

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Opposition Leader Sajith Premadasa met with a delegation from the Asian Development Bank (ADB) at his office to discuss the current economic situation in Sri Lanka.

He reiterated the challenges faced by small, medium, and micro-enterprises (SMMEs) in the country. The ADB delegation included Takafumi Kadono (Country Director for Sri Lanka), Lilia Aleksanyan (Senior Economist), and Uresha Walpitage (Financial Sector Specialist).

During the meeting, both sides engaged in comprehensive discussions on the state of Sri Lanka’s economy. Following the meeting, ADB officials were given the opportunity to meet directly with representatives of small and medium entrepreneurs to hear their concerns firsthand.

Premadasa emphasized that entrepreneurship is a driving force for national economic growth, and that strengthening small and medium enterprises is crucial for recovery and job creation.

Citing data from the Department of Census and Statistics, he noted that SMEs had faced multiple challenges in recent years, leading to the closure or bankruptcy of nearly 260,000 businesses by 2022.

He warned that many more SMEs risk collapse by the end of this year if immediate support measures are not introduced. The Opposition Leader urged the ADB to assist struggling enterprises in reviving operations and preserving employment across the country.