Press briefing of Cabinet Decision taken on 2016-10-25

Obtaining a Credit of Special Drawing Rights being the equivalent of United States Dollars 75 million from the International Development Association (IDA) of the World Bank for the Social Safety Nets Project

- The Government of Sri Lanka has planned to implement the 'Social Safety Nets Project 2017-2022' for improving equity, efficiency and transparency of its social safety network programmes for the benefit to the poor and the vulnerable.

The International Development Association (IDA) of the World Bank has given its consent to provide the Government of Sri Lanka with the required credit facilities for the purpose. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance to enter into a financing agreement with the IDA of the World Bank to borrow a credit of Special Drawing Rights equivalent of US$ 75 million, was approved by the Cabinet.