Sri Lanka secures USD 50 million loan from OPEC Fund for economic recovery

December 10, 2024 12:19 pm

The Government of Sri Lanka has submitted a request to the OPEC Fund for International Development to secure funds to finance Sri Lanka’s Comprehensive Reform Agenda, in line with the Extended Fund Facility (EFF) implemented with the assistance of the International Monetary Fund (IMF).

The institution has agreed to provide a loan of USD 50 million as a policy-based loan, Cabinet Spokesman, Minister Dr. Nalinda Jayatissa said this morning (10).

Meanwhile, the IMF has also confirmed that the loan is in line with the parameters of the EFF program in Sri Lanka.

Accordingly, the proposal submitted by the President, in his capacity as the Minister of Finance, Planning and Economic Development, to enter into a Loan Agreement with the OPEC Fund for International Development to obtain the said loan has received the Cabinet approval.

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.