Sri Lanka to get US$1.34bn from World Bank in next three years: Fin Min

ECONOMYNEXT – Sri Lanka would get 1,340 million US dollars under World Bank programs over the next three years, Finance Minister Ravi Karunanayake has said.

There were no details of specific projects, but seems to be a little less or around past volumes, if the information is accurate, when compared with published data.

But the World Bank has developed a 2017-2020 country partnership Framework which places a greater emphasis on renewable energy, greening cities, health, education, as well as budget support loans for 2018, 2019 and 2020, where exact lending volumes have not been published earlier.

Sri Lanka is also slated to get a lot of policy support, which can transform the economy and government services and improve competitiveness of the economy.

The World Bank has ongoing programs in infrastructure including, roads, power, water supply, skills and metro development, skills approved under a three year program which ended in 2016.

Under the earlier program about 1343 million dollars were loaned from the concessionary International Development Association (IDA) window and 315 million dollars from the International Bank for Reconstruction and Development.