Press briefing of Cabinet Decision taken on 2023-06-26

Obtaining support of the World Bank for the implementation of Economic Stabilization and Recovery Programme through the Development Policy Financing Programme

- Negotiations to seek the support of the World Bank under the Development Policy Financing Programme for a period of two years from 2023 to 2024 have been held on 2023‑05‑17. Under the said programme, it has been agreed to grant Special Drawing Rights (SDR) 371.2 million equivalent to US$ 500 million in 02 tranches for the year 2023. The clearance of the Attorney General and the concurrence of the Monetary Board of the Central Bank of Sri Lanka have been obtained for the proposed financing facility. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to enter into an Agreement with the International Development Association of the World Bank Group in relation to obtaining the said financing facility, was approved by the Cabinet.