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WB pledges USD 1,340 mn aid to Lanka

16 December 2016 10:11 pm - 3     - {{hitsCtrl.values.hits}}


The World Bank has pledged assistance worth US $ 1340 million to Sri Lanka which will be on a dual format, Finance Minister Ravi Karunanayake announced today.

The Minister said the total sum pledged by the World Bank will comprise US 440 million as development assistance at the rate which could be as low as 2 per cent while it had also received a further US $ 900 million with a higher interest rate in the form of normal assistance.

“Sri Lanka lost development assistance for which the interest rate is much less as its per capita income reached $ 4000 in the recent past. However as a result of negotiations which Sri Lanka had with the donor Sri Lanka getting a mixed assistance," the minister said.

“The World Bank must have surely taken up by the financial discipline which Sri Lanka has shown in the recent past as well," he added assuring that the assistance would be put to good use.



Video by Buddhi

  Comments - 3

  • Madiya Saturday, 17 December 2016 10:15 AM

    Good! Now more lunary cars, salary and allowance hikes for the hard working physically unfit MRs and Ministers. Come elections, whatever and .......

    ceylonese Friday, 16 December 2016 10:20 PM

    lanka is gradualy and successfully quickly crush the traitors who trying to destroy this hard won success by creating violence.robe wearing fake monks are the traitors of buddhism and country.why government still silence while these traitors are creating violence daily basis now via DM Android App

    Thanos Friday, 16 December 2016 10:24 PM

    This is NOT aid! You don't pay interest on aid. Still, this is off-course most welcome especially the low rate development assistance.

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