Sri Lanka’s Foreign Minister requests short-term funds from WB

ECONOMYNEXT – Sri Lanka’s Foreign Minister G L Pieris has sought short term financial assistance from the World Bank and the lender has assured it is planning to give about 700 million US dollars by re-purposing existing loans, a ministry statement said.

The Country Manager of World Bank Chiyo Kanda had met Minister of Foreign Affairs G.L. Peiris on May 27.

The statement quoted her as saying that the agency will work with the ADB, Asian Infrastructure Investment Bank (AIIB), and UN office to re-purpose their already committed projects and World Bank itself would disburse about 700 million dollars in the next few months.

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

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

(Colombo/May30/2022)



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