Finance Minister Ravi Karunanayke said the World Bank (WB) and the International Monetary Fund (IMF) had already agreed to extend unconditional support for Sri Lanka’s development initiatives.
“This is a golden opportunity for Sri Lanka. They have been closely watching the success achieved in the political front. Hence the World Bank and the International Monetary Fund stand ready to extend finance assistance to revive the country’s economy. We are ready with our set of proposals. I have no doubt that they will respond positively to them. I must reiterate that we are not subject to any conditions imposed by the World Bank and the IMF. In fact, they support us on our conditions and no on theirs."
Karunanayake said the financial support will mainly be channeled for education, health infrastructure, women empowerment and ensuring better prospects for young men and women.
"In addition, the two lending agencies too have assured support for enhancing economic productivity, developing export sector, developing enterprises, improving business environment and promoting investment. It is difficult to predict exactly how much we are getting. Because they have to study our programme first. In the past, we pledged support based on various conditions. But now they support us by looking at our programme”, the Minister noted.
Minister Karuanayake is currently attending the Annual Meeting of the World Bank and the International Monetary Fund now being held in Lima, the Peruvian Capital.