The World Bank today said it has released the US $ 250 second tranche of the US $ 500 million budget support loan for Sri Lanka that was approved in June 28, 2023.

The first tranche of the loan was released inJune.

The World Bank said this loan is the first in a series that supports “foundational reforms to restore macroeconomic stability, mitigate the impacts on the poor and vulnerable, and support an inclusive, private sector-led recovery.”

It also said the second tranche is being released after assessing the satisfactory progress the government has made in carrying out the broader reform programme.