Sri Lanka seeks short term financial assistance from World Bank

The World Bank Country Manager in Colombo, Chiyo Kanda, recently called on the Minister of Foreign Affairs Prof. G.L. Peiris at the Ministry of Foreign Affairs.

Minister Peiris sought assistance from the World Bank until long term assistance materializes through the IMF, other international institutions and donor countries. 

The Minister highlighted the severity of the challenges in reducing the budget deficit at the forthcoming budget, the ministry said in a statement. 

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 stated that her office is also working with other organizations such as ADB, Asian Infrastructure Investment Bank (AIIB), and UN office and encourages them for ‘re-purposing’ their already committed projects to help the people of Sri Lanka at this difficult time. 

She said that the World Bank will disburse approximately USD 700 Million to Sri Lanka within the next few months, the statement said.