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Wednesday, 12 July 2017 - 16:54
WORD BANK INCREASES FINANCIAL ASSISTANCE TO SRI LANKA
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World Bank Country Director for Sri Lanka and Maldives Idah Z. Riddihough says Sri Lanka will receive financial and technical assistance worth 1,340 million dollars from the World Bank Group for a 3-year period starting from July1, 2017.

The support will be extended under the International Development Association’s Transitional Support Facility.

Earlier, Sri Lanka received $ 660mn in IDA support for a 3-year period from 2014 to 2017.

Sri Lanka is expected to access approximately $ 300mn per annum for the coming 3 years from the International Bank for Reconstruction and Development.

IDA and IBRD are member institutions of the World Bank Group.

This financial assistance will be extended as financial assistance for development projects and technical assistance for analytical and advisory services.

The World Bank Country Director for Sri Lanka and Maldives Idah Z. Riddihough disclosed these details during a meeting with Finance Minister Mangala Samaraweera at his ministry yesterday.
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