World Bank assures continuous assistance to Sri Lanka

World Bank Vice President for South Asia Region Hartwig Schafer (left) shake hands with President 

Maithripala Sirisena

World Bank (WB) Vice President for South Asia Region Hartwig Schafer said the World Bank will increase assistance to Sri Lanka under three of its new operations.

Schafer who called on the President in his office on Thursday said the assistance will be provided for the agriculture sector faced with climatic vagaries, irrigation, renewable energy, climate resilience operations and renovation of tanks in rural areas.

Referring to the Easter Sunday terror attacks and its impact on the economy, he said the World Bank would provide monetary assistance to reduce budget gap so that Sri Lanka could continue global borrowings with a sound economic footing. President Sirisena expressed his gratitude to the World Bank for its longstanding financial support to Sri Lanka. He made a special mention about the Bank's support extended to Sri Lanka in the aftermath of the challenges faced due to the 21 April terrorist attack.

Expressing contentment over the quick recovery made by Sri Lanka after the terrorist attack, WB Vice President said that the global community stands by Sri Lanka at this moment of need. Schafer, who is in Colombo to chair the World Bank Senior Regional Managers Meeting, said that the Bank decided to hold its annual session in Colombo to show solidarity with Sri Lanka as the country is trying to restore normalcy after the Easter Sunday attack.

He congratulated Sri Lanka for rising to the level of Upper Middle Income Country and said it's a testimony of the country's resilience.

WB Country Director Idah Z. Pswarayi-Riddihough, IFC Country Manager Amina Arif, Senior Operations Officer Anne-Kartin Arnold and Additional Secretary to the President Esala Weerakoon also took part in the discussion.