World Bank Loan of USD 1,340 million to Sri Lanka

Finance Ministry in a statement issued said , that the World Bank has decided to grant  Sri Lanka a loan worth USD 1,340 million as aid to enhance financial and technological stability, for a period of three years with  effect from July 1,2017

Previously, in the years 2014 till 2017, Sri Lanka received USD 660 million from this loan facility enabled by the transit cooperation facility of the International Development Association (IDA).

In addition, to aid development projects financially and to provide technological assistance to enhance analytical and instruction services in Sri Lanka , Sri Lanka will receive USD 300 million per year from the World Bank, International Bank for Reconstruction and Development (IBRD) and IDA for three consecutive years.

 Finance and Mass Media Minster Mangala revealed these facts  at a meeting held  at the Finance Ministry in Colombo last Tuesday.