Signs three key support projects worth $ 187 m in assistance
Extends $ 100 m to boost Govt.’s economic reform push
Inks $45 m credit to help protect natural habitats and resources
Offers $42 m credit to protect people and infrastructure from climate-related risks
The World Bank appears to be getting more bullish as it committed $ 187 million for Sri Lanka yesterday for three key projects including supporting the Government’s push for economic reforms.
It extended a $100 million credit from the International Development Association (IDA) to support the Government’s economic reform program.
Sri Lanka has been making steady progress on economic reforms, with the Government aiming to create one million new jobs through a reform package focused on improving the country’s competitiveness, transparency and macroeconomic stability.
A recent World Bank study, the Systematic Country Diagnostic, highlighted the need for Sri Lanka to move from a largely inward-looking and public sector-driven economy to one that is capable of unleashing the potential of the private sector – leading to post-conflict economic growth and creating more and better jobs for Sri Lankans. The Sri Lanka Competitiveness, Transparency and Fiscal Sustainability Development Policy Financing (DPF), which is only the second DPF to Sri Lanka in a decade, aims to support the Government’s reform agenda by reducing obstacles to private sector competitiveness, establishing transparent and well managed public institutions and improving fiscal sustainability.
- See more at: http://www.ft.lk/article/566167/World-Bank-gets-bullish-on-Sri-Lanka#sthash.rs0MDcBj.dpuf