ADB, AIIB, WB in joint action plan to help Sri Lanka

Monday, 23 May 2022 03:27 - - {{hitsCtrl.values.hits}}

The Government has formally begun talks with several multilateral donor agencies to seek financial support.

On Friday Treasury Secretary Mahinda Siriwardena convened the first joint coordination meeting with the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB) and the World Bank (WB) under a joint action plan to support Sri Lanka’s response to the economic crisis.

All three institutions are adopting a coordinated approach to sustain basic services and livelihoods and to mitigate the impact of the economic crisis on the people of Sri Lanka, the global lenders said in a statement.

This includes access to essential items such as medicines, cash assistance, gas and fertiliser through the reallocation of resources from existing projects.

Post meeting World Bank Country Director for Sri Lanka, Nepal and Maldives Faris Hadad-Zervos tweeted that his organisation together with the ADB and AIIB are working together to mitigate the impact of the economic crisis on the people of Sri Lanka.