Foreign Minister seeks short term funding from World Bank

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By Editor_1
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COLOMBO – Foreign Minister G. L. Pieris has sought short term financial assistance from the World Bank until long term assistance materializes through the International Monetary Fund (IMF), other international institutions and donor countries.

Peiris sought the World Bank’s assistance when its Country Manager in Colombo, Chiyo Kanda, called on him at the Ministry of Foreign Affairs on Friday (27).

A statement from the Ministry of Foreign Affairs said Kanda had said the World Bank would be disbursing approximately US$ 700 million to Sri Lanka in the next few months.

The statement said Peiris had highlighted the severity of the challenges in reducing the budget deficit at the forthcoming budget, and sought short term financial assistance from the World Bank until sustainable solutions are found.

Kanda had said that her office was  also working with other organizations such as Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and UN office, encouraging them for ‘re-purposing’ their already committed projects to help the people of Sri Lanka at this difficult time.

-ENCL

Editor_1
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