Sri Lanka to obtain USD75mn credit of SDR from World Bank

Thursday, 27 October 2016 - 7:57

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Sri Lanka is to obtain 75 million US dollars as credit of Special Drawing Rights from the International Development Association of the World Bank for the social safety nets project.

The project which will be implemented from 2017 – 2022 has been designed to improve the equity, efficiency and transparency of island’s social safety net programs for the benefit of the poor and vulnerable.

Loan negotiations are expected to be finalized early next month and the Finance Minister will enter in to a financing agreement on behalf of the government.