USD 160 million : PM briefs Parliament on World Bank fund

May 18, 2022 at 12:01 PM

A sum of USD 160 million has been received from the World Bank, Prime Minister Ranil Wickremesinghe informed the Parliament today.

He said the funds issued by the World Bank yesterday cannot be used to purchase fuel for Sri Lanka.

However, discussions are currently underway to consider if the funds could be utilized for the purchase of petroleum products, the Prime Minister said.

Prime Minister Ranil Wickremesinghe further said that the Asian Development Bank is also set to provide funds similar to the amount received from the World Bank.

The funds from the Asian Development Bank have been delayed as Sri Lanka has failed to settle a repayment of USD 3 million, he said. 

The Prime Minister also revealed that Sri Lanka does not even have USD 1 million to repay its debts at present. 

Ranil Wickremesinghe said certain statistics were missing or are incorrect and required time to be collected and organized.

He further said that a statement on this matter will be issued in the coming week.

The Prime Minister also reiterated his calls for all parties to work together to resolve the various issues faced by the public due to the current economic crisis in Sri Lanka. (NewsWire)