World Bank to disburse USD 700 million to Sri Lanka
May 31, 2022
Colombo [Sri Lanka], May 31 : The World Bank is set to disburse about USD 700 million to Sri Lanka within the next few months.
This pledge was made when the World Bank's Country Manager in Colombo Chiyo Kanda held discussions with the Sri Lankan Minister of Foreign Affairs G.L. Peiris.
The Sri Lankan minister sought assistance from the World Bank until long term assistance materializes through the International Monetary Fund (IMF), other international institutions and donor countries, Xinhua news agency reported.
The minister stated that short term financial assistance from the World Bank would be appreciated until sustainable solutions are found.
The World Bank country manager said that her office is also working with other organizations such as the Asian Development Bank, Asian Infrastructure Investment Bank, and the UN office, encouraging them to "re-purpose" their already committed projects to help the people of Sri Lanka at this difficult time.
Sri Lanka is facing a severe foreign currency shortage which has created problems in importing essential items.
