Sri Lanka Seeks Assistance From The World Bank

2022-05-30 02:03:40

(MENAFN- Colombo Gazette)

Sri Lanka has sought assistance from the World Bank until long term assistance materializes through the International Monetary Fund (IMF).

World Bank Country Manager in Colombo, Chiyo Kanda, called on the Minister of Foreign Affairs Prof. G.L. Peiris at the Ministry of Foreign Affairs.

Minister Peiris sought assistance from the World Bank until long term assistance materializes through the IMF, other international institutions and donor countries.

The Minister highlighted the severity of the challenges in reducing the budget deficit at the forthcoming budget.

The Minister stated that short term financial assistance from the World Bank would be appreciated until sustainable solutions are found.

The World Bank Country Manager stated that her office is also working with other organizations such as ADB, Asian Infrastructure Investment Bank (AIIB), and UN office and encourages them for 're-purposing' their already committed projects to help the people of Sri Lanka at this difficult time.

She said that the World Bank will disburse approximately USD 700 Million to Sri Lanka within the next few months. (Colombo Gazette)

MENAFN30052022000190011042ID1104290342

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.