Strengthening Macroeconomic Resilience and Transparency Program, Subprogram 1 (ADB-58023-001)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 7, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Sri Lanka - Ministry of Finance, Planning and Economic Development
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 28, 2026

Disclosed by Bank Nov 7, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of (i) a proposed programmatic approach for the Strengthening Macroeconomic Resilience and Transparency Program, and (ii) a proposed policy-based  loan to the Democratic Socialist Republic of Sri Lanka for subprogram 1 of the Strengthening Macroeconomic Resilience and Transparency Program (SMART).

The program aims to build on progress toward macroeconomic stability and sustainable growth following the economic crisis by strengthening public expenditure management, improving revenue collection, and fostering private sector participation. This includes enhancing the management, transparency, and accountability of state-owned enterprises (SOEs), strengthening the legal and institutional framework for public–private partnerships (PPPs), and improving the pipeline of climate-related projects, including those implemented through PPPs.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

In compliance with ADB’s Safeguard Policy Statement (2009), subprogram 1 is classified as category C for environment, involuntary resettlement, and Indigenous People’s safeguards. None of the policy actions lead to a weakening of environmental regulations. The environmental implications of policy actions 1.1, 1.9 and 1.10 have been considered, with no direct adverse environmental impacts anticipated. Under the policy action 1.10 (ii) the newly submitted NDC may result in indirect impacts downstream given both the type and quantum of infrastructure development set out. Since the exact details and location of this development are mostly still to be determined, there remains an opportunity to ensure environmentally sensitive locations are avoided.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The programmatic approach is estimated to cost $200 million and will comprise policy-based loans for two subprograms of $100 million each, in 2025 and 2027.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works