SL receives 1st disbursement of US$ 250Mn from WB

4 July 2023 01:07 pm Views - {{hitsCtrl.values.hits}} 2 Bookmark

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Sri Lanka has received the 1st disbursement of US$ 250 Mn out of US$ 500 Mn for budget support from the World Bank, State Minister of Finance Sehan Semasinghe said.

Last week, the Cabinet of Ministers approved the proposal by President Ranil Wickremesinghe to enter into an agreement with the International Development Association (IDA) of the World Bank Group in relation to obtaining this financial facility.

Accordingly, the World Bank Board of Directors last Wednesday approved USD 700 million in financing to help Sri Lanka recover from the current economic crisis and provide relief to the poor and vulnerable people.

Of this amount, USD 500 million had been assigned for budgetary support and USD 200 million for social security.(DSB)

Comments - 2

Ranjith Tuesday, 04 July 2023 03:09 PM

Long way to go to stop borrowing for to support budget and social welfare when are we going to see the light at end of the tunnel there still nothing to boast.

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Tissa Fernando Tuesday, 04 July 2023 06:50 PM

I am sure orders are getting ready for 50 Range Rovers, 50 BMWs and 50 Mercedes SUVs for family and friends.

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