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No new financing for Sri Lanka without macroeconomic policy framework: WB

25 May 2022 08:19 am - 6     - {{hitsCtrl.values.hits}}

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The World Bank on Tuesday said it is not planning to provide any new financing to Sri Lanka until an adequate economic policy framework has been put in place.

In a statement, the bank said it was repurposing resources from previously approved projects to help the Sri Lankan government pay for some essential medicines, temporary cash transfers for poor and vulnerable households, and other support.

It said that recent media reports had inaccurately stated that the World Bank planned to provide Sri Lanka with a new bridge loan or other loan commitments.

Full statement:
“Recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, among other incorrect assertions.

We are concerned for the people of Sri Lanka and are working in coordination with the IMF and other development partners in advising on appropriate policies to restore economic stability and broad-based growth.

Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka.

We are currently repurposing resources from previously approved projects to help the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses.”


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  Comments - 6

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  • joshua Wednesday, 25 May 2022 09:51 AM

    also link any deal to human rights and money laundering

    lan Wednesday, 25 May 2022 10:15 AM

    People in WB and IMF know what is needed for Sri Lanka today. They give preference to saving children and the poor and yet, what our politicians do now is trying to save their post and job even at this time

    Truth Wednesday, 25 May 2022 10:16 AM

    We have lost the main hope (World Bank Loan) because of Gota, Mahinda, Basil and Ranil.

    Paul Wilson Wednesday, 25 May 2022 10:17 AM

    No hope for SriLanka, its the end, Gota and its Government is the main reason, what a shame.

    Lal Wednesday, 25 May 2022 10:45 AM

    International community don't trust the Government.

    Sambo Wednesday, 25 May 2022 08:13 PM

    One can't expect a country that mismanaged it's spending to receive bail outs as and when they request.


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