Sri Lanka: The World Bank, which is facing a deep financial crisis, has made an idea to get out of the economic crisis. The World Bank has expressed its intention to provide relief by releasing an amount of $ 700 million to Sri Lanka. Sri Lanka is expected to get immediate relief by allocating the existing loans to the new head. According to a report published in the news website Colombo Gazette, the World Bank’s Sri Lanka chief Chiyo Kanda made this assurance during his meeting with Foreign Minister G L Peiris last week. He said that the World Bank would re-plan and release the funds for the already approved projects.
According to this report published quoting the Ministry of Foreign Affairs, Kanda has assured Peiris, that the World Bank will work closely with the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIBI), and the United Nations Office in this regard.
During this, the Sri Lankan Foreign Minister demanded from Kanda that help from the World Bank should be provided till the help of the International Monetary Fund (IMF) is not available for a long time. To this, Kanda said that in the coming months, $ 700 million will be given to Sri Lanka.
Sri Lanka, which is going through a deep foreign exchange crisis and high inflation, has requested the IMF to provide a relief package. In view of Sri Lanka’s plight, the IMF has also given positive signs in this direction.
