(UTV | COLOMBO) – “Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka,” said the World Bank in a press release on May 24.
“We are currently repurposing resources from previously approved projects to help the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses,” said the World Bank.
The World Bank also said that it was working in coordination with the IMF (International Monetary Fund) and other development partners in advising on appropriate policies to restore economic stability and broad-based growth.
