Press briefing of Cabinet Decision taken on 2023-12-05 (Subject to Confirmation at the next Meeting)

Financial Sector Safety Net Strengthening Project funded by the World Bank

- The Cabinet at its meeting held on 2023‑04‑24 has granted approval in principle to implement the Financial Sector Safety Net Strengthening Project under the World Bank funds. At the loan negotiations held as per the said approval, the World Bank has agreed to grant a loan amounting to US$ 150 million under the components of capitalization of Sri Lanka Deposit Insurance Scheme, institutional capacity building of the Central Bank of Sri Lanka and project implementation and monitoring. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies, to enter into the relevant Agreements, was approved by the Cabinet.