Asian Development Bank (ADB) President Masatsugu Asakawa has said that debt cancellation is not possible.
The ADB chief was responding to Hemantha Withanage, who was representing the Centre for Environmental Justice (ECJ) on behalf of the NGO Forum on ADB and other civil society organizations. Withanage said canceling ADB failed loans in Sri Lanka. It will give a signal to other lenders to cancel some other illegitimate debt Despite the refusal to conceal loans, Asakawa has promised to support Sri Lanka in economic recovery.
The ADB has committed 479 public sector loans, grants, and technical assistance totaling USD 11 billion to Sri Lanka.