May 31, 2022
1 min read

World Bank approves $700 million to support Lanka

The Minister said that short-term financial assistance from the World Bank would be appreciated until sustainable solutions are found….reports Asian Lite News

 The World Bank will disburse nearly $700 million to Sri Lanka within the next few months, Sri Lanka’s Foreign Minister announced.

This pledge was made when the World Bank’s Country Manager in Colombo, Chiyo Kanda spoke to Sri Lankan Foreign Affairs Minister, G.L. Peiris on Monday, Xinhua news agency reported.

During the meeting, the Minister sought assistance from the World Bank until long-term assistance materialises through the International Monetary Fund, other international institutions and donor countries.

The Minister said that short-term financial assistance from the World Bank would be appreciated until sustainable solutions are found.

The World Bank Country Manager said that her office is also working with other organisations such as the Asian Development Bank, Asian Infrastructure Investment Bank, and the UN office, encouraging them to “re-purpose” their already committed projects to help the people of Sri Lanka at this difficult time.

Sri Lanka is facing a severe foreign currency shortage which has created problems in importing essential items

ALSO READ: ‘Crisis-ridden Lanka’s Parliament to be strengthened’

Previous Story

Ukrainian president Zelensky visits frontline in Kharkiv

Next Story

Titans celebrate maiden IPL victory with roadshow

Latest from -Top News

Pakistan on the Brink: War, Weakness, Woes

The reason behind growing anxiety and consternation in Islamabad is the depleting reserves of its military’s artillery and ammunition and also a ruined economy…reports Asian Lite News As the tensions between India

UAE Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

Over 45,000 affected by Somalia flash floods 

The Horn of Africa is one of the regions most vulnerable to climate change, and extreme weather events are becoming increasingly frequent and intense  More than 45,000 people have been affected by

UNSC Convenes Over India-Pak Crisis

Pakistan is currently an elected member of the Council and will participate in the meeting….reports Asian Lite News The United Nations Security Council (UNSC) will be holding a closed-door meeting on Monday

Trump Declares Trade War on Foreign Films

He accused other countries of offering all sorts of incentives and drawing filmmakers and studios away from the US….reports Asian Lite News US President Donald Trump on Monday (Indian time) announced a
Go toTop

Don't Miss

6 million Pakistanis facing acute food insecurity: World Bank

According to the World Food Programme (WFP), the number of

UAE to participate in 2024 Spring Meetings of IMF, World Bank Group

The Spring Meetings of the International Monetary Fund and the