The World Bank has informed that until an adequate macroeconomic policy framework is in place, it does not plan to offer new financing to Sri Lanka.
The World Bank in a statement informed that recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, among other incorrect assertions.
The World Bank said they are concerned for the people of Sri Lanka and are working in coordination with the International Monetary Fund and other development partners in advising on appropriate policies to restore economic stability and broad-based growth.
The World Bank said they 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.
