Saturday, 28 January 2023, 10:28:55 pm
World Bank approves Sri Lanka's concessional funding request
December 06, 2022

(File Photo)

The World Bank has approved Sri Lanka's request to access concessional financing from the International Development Association so as to help stabilise its economy.

Through the IDA, Sri Lanka will receive concessional financing and technical assistance to implement reforms towards economic recovery.

Low foreign exchange reserves have left the island nation of 22 million struggling to pay for imports of essentials such as food, fuel and medicine.