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SL secures EUR 9.8mn grant to strengthen public finances

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19 July 2023 04:59 pm - 4     - {{hitsCtrl.values.hits}}

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Sr Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU)and Française de Développement (AFD) to strengthen the country’s management of public finances.

The grant aims to support improving economic governance, transparency, and accountability in how public finances are spent.

The grant will be utilized to strengthen the overall accountability framework by improving the performance of the National Audit Office of Sri Lanka in terms of stronger governance, greater accountability, and enhanced institutional capacity in areas relating to audit planning, quality assurance, staff capacity, engagement of citizens in the audit process, as well as in specialized audits such as procurement and environment audits 

 


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  Comments - 4

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  • Jayantha Wednesday, 19 July 2023 08:05 PM

    Those foreign bodies that gives loans too should be responsible for the downfall of SL economy. They give loans without making mandatory changes such as reduce government staff, update education and legal sector to suite current world demand and automate government services where possible. Then after few years the government waste the money and again goes to these organization. They happily give loans again and cycle continues. People suffer and they are the ones who have to pay these loans at the end of the day. So not only politicians these rogue loan givers should be accountable for current downfall. Future governments should try to take legal action against these organizations too.

    European Thursday, 20 July 2023 10:17 AM

    Do you really think the EU is as ignorant as Sri Lanka? It is the other way around: loans to improve good economic governance, accountability and transparance.

    Sam Silva Wednesday, 19 July 2023 10:03 PM

    So this grant is to improve the economic governance when all the crooks are governing country. More grants and loans are more merrier for our honest politicians. Sad

    Judge Thursday, 20 July 2023 06:50 AM

    Everything needs to be strengthen in SL public service. All those words don't mean anything until rampant corruption and upskilling of public servants are done. Vast majority of SL public servants hugely lack language (English in particular), communication, analytical and policy development skills.


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