World Bank, ADB & AIIB announce joint plan to aid Sri Lanka
May 21, 2022 07:35 pm
The World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have jointly decided to support Sri Lanka’s response to the ongoing economic crisis.
The three institutions announced their decision in a statement issued after the first joint coordinated meeting held on the 19th of May.
“All three institutions are adopting a coordinated approach to sustain basic services and livelihoods and to mitigate the impact of the economic crisis on the people of Sri Lanka.”
This includes access to essential items such as medicines, cash assistance, gas and fertilizer through the reallocation of resources from existing projects, the statement read further.