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Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

World Bank agrees to provide $600 million in financial aid for crisis-hit Sri Lanka

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to meet payment requirements for essential imports, according to Sri Lankan president’s media division said.…

World Bank deeply concerned about the uncertain economic outlook in Sri Lanka and its impact on people

Sri Lanka’s economic outlook is highly uncertain due to fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the…

IFC Supports First Sri Lanka Chapter of Women Corporate Directors to Promote Diversity in Boardroom

In a bid to promote boardroom diversity and establish a network of existing and prospective women directors, the Women Corporate Directors Foundation (WCD)—the largest organization of women corporate board members…

Sri Lanka Prepares to launch its first official Tourism ‘Travel App’ to Assure post-COVID travelers with Unique Experiences

Sri Lanka is preparing to launch its first official Tourism ‘Travel App’ with the assistance of WorldBank and Asian Development Bank with a focus on enhancing the visitor experience and improving the…

Sri Lanka’s Banking Sector’s MSME Lending Portfolio Among Weakest in Asia-Pacific

Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…

IMF, World Bank Begin Push To Swap Debt Relief For Green Projects

(AFP): The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with…

World Bank Forecasts 3.3% economic growth for Sri Lanka in 2021

The World Bank (WB) projects Sri Lanka’s economy to grow by 3.3 percent while expressing concerns over elevated debt distress in the country. The WB in its latest 2021 Global Economic…

Sri Lanka’s fruit and Vegetable industry enters into MOU with WB’s Agriculture Sector Modernisation Project

The Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA) have entered into a memorandum of understanding (MOU) with the World Bank’s (WB) Agriculture Sector Modernisation Project (ASMP) anticipating…