World Bank said it does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place refuting media reports about providing bridge financing.
However the bank said it is repurposing resources from previously approved projects in a bid to help the government meet some urgent and essential expenses.
“We are concerned for the people of Sri Lanka and are working in coordination with the IMF and other development partners in advising on appropriate policies to restore economic stability and broad-based growth. Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka.”
“We are currently repurposing resources from previously approved projects to help the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses.”
Subscribe to our newsletter to get notification about new updates, information, etc..
