World Bank to disburse USD 700M to Sri Lanka within the next few months

(FASTNEWS | COLOMBO) – The Ministry of Foreign Affairs says World Bank Country Manager in Colombo Chiyo Kanda has stated that the World Bank will disburse approximately USD 700 Million to Sri Lanka within the next few months.

The assurance was given when Country Manager Chiyo Kanda called on Minister of Foreign Affairs Prof. GL Peiris at the Ministry of Foreign Affairs.

The Foreign Ministry said Minister Peiris sought assistance from the World Bank until long-term funding materializes through the International Monetary Fund, other international institutions and donor countries.

The Minister has highlighted the severity of the challenges in reducing the budget deficit at the forthcoming budget.

Minister GL Peiris had stated that short-term financial assistance from the World Bank would be appreciated until sustainable solutions are found.

The Foreign Ministry said the World Bank Country Manager had stated that her office is also working with other organizations such as Asian Development Bank, the Asian Infrastructure Investment Bank (AIIB), and United Nations office and encourages them for ‘re-purposing’ their already committed projects to help the people of Sri Lanka at this difficult time.