World Bank responds positively to President’s request for financial assistance

President Maithripala Sirisena in discussion with the 12-member World Bank delegation

The World Bank has responded positively to a request made by the President Maithripala Sirisena to provide financial assistance for the next four years to help improve the living standards of the island’s people.

A 12-member World Bank delegation met with the President Tuesday at the President’s House to discuss the progress of ongoing World Bank funded projects in Sri Lanka and to explore possible ways to relax the conditions for loan facilities provided to Sri Lanka.

The World Bank delegation is here to review the past financial aid to Sri Lanka and its use in the development of the nation. 

The discussion focused on the developments took place in different districts under the World Bank financial assistance program.

This the first visit by a group of officials from the World Bank to the Island in 34 years, according to the President’s Media Division.

The World Bank delegation requested the Sri Lankan Government to cooperate with the ongoing development programs to further strengthen the relationship between Sri Lanka and the global lender.

The President informed the representatives of the World Bank on the current state of the country’s imports and exports, foreign assets and foreign policy. He made an official request to consider Sri Lanka as a country with middle income and reconsider the conditions put forward by the World Bank before.

President Sirisena also pointed out that recent disasters, flood and landslide problems, human conflicts and other man made conflicts are hindrances to the country’s development drive.

The delegation expressed satisfaction on the mechanism adapted by the Sri Lanka Government on the World Bank funded development programs in the country. They assured that the lender will reconsider on softening the conditions according to middle income country status. They also promised to respond positively to the request made by President in this regard.

President Sirisena also briefed the World Bank representatives on the current disaster situation and the foreign policies of the country.

Secretary to the Finance Ministry and Treasury Dr. R.H.S. Samaratunga also participated in the discussion.