World Bank to disburse USD 700M to Sri Lanka within the next few months
The World Bank Country Manager in Colombo, Chiyo Kanda has assured that approximately USD 700 million will be disbursed to Sri Lanka within the next few months.
This assurance was given during her meeting with Sri Lanka’s Minister of Foreign Affairs, Professor G.L. Peiris on Friday (May 27).
Minister Peiris sought short-term financial assistance from the World Bank until sustainable solutions materialise through the IMF, other international institutions and donor countries, highlighting the severity of the challenges in reducing the budget deficit in the forthcoming budget.
Chiyo Kanda further stated that her office is also working with other organisations such as ADB, Asian Infrastructure Investment Bank (AIIB), and the UN office and encouraging them to ‘repurpose’ their already committed projects to help the people of Sri Lanka at this difficult time.
Latest Headlines in Sri Lanka
- Person arrested over shooting of elephant “Sita” granted bail September 30, 2023
- International Commission of Jurists says Online Safety Bill is an assault on freedoms September 30, 2023
- Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche September 29, 2023
- Sri Lanka Navy seizes Kerala cannabis worth over Rs. 33 million in Karainagar September 29, 2023
- Some Sri Lanka creditors seeking debt restructuring deal without China September 29, 2023