Govt. goes for $ 500 m WB Group loan for budget support

Wednesday, 28 June 2023 00:26 - - {{hitsCtrl.values.hits}}

The Government has decided to go ahead for a $ 500 million loan from the World Bank’s concessionary window International Development Association (IDA) for budgetary support. The assistance in two tranches is from the World Bank’s broader Development Policies Financing Program for two years.

The move has been cleared by the Attorney General’s Department and received the concurrence of the Central Bank.

Cabinet of Ministers at its meeting on Monday approved the proposal by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilisation and National Policies to enter into an agreement with the IDA in relation to obtaining this financial support.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.