The World Bank has promised to disburse approximately USD 700 Million to Sri Lanka within the next few months.
The assurance comes after Foreign Minister Prof. G.L.Peiris had sought assistance to address the current economic crisis in Sri Lanka.
The Foreign Ministry said the 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 on Friday (27).
Minister Peiris sought assistance from the World Bank until long-term assistance materializes through the IMF, other international institutions, and donor countries.
The Foreign Ministry said the Minister highlighted the severity of the challenges in reducing the budget deficit in 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 the UN office.
Chiyo Kanda said the World Bank has encouraged them to ‘re-purposing’ their already committed projects to help the people of Sri Lanka at this difficult time.
She further said that in the midst of these developments, the World Bank will disburse approximately USD 700 Million to Sri Lanka within the next few months. (NewsWire)