The Cabinet of Ministers has granted approval to enter into an agreement with the World Bank for US$ 200 million for the second stage of the reform agenda in Sri Lanka under the development policy financing programme, Cabinet Spokesman and Mass Media Minister Dr. Bandula Gunawardhana said. He was speaking at the weekly Cabinet media briefing held yesterday at the Government Information Department.
The World Bank is supporting the comprehensive reform agenda in Sri Lanka through the development policy financing programme in line with the International Monetary Fund (IMF) funding facility.
The said programme is a biennial programme, with stage 1 successfully being completed in 2023.
Following this, the World Bank has agreed to grant a special drawing right equal to US$ 200 million under the second stage of the development policy financing programme to support the government reform plan. Accordingly, the Cabinet approved the proposal presented by President Ranil Wickremesinghe, in his capacity as the Finance Minister, to enter into an agreement with the International Development Corporation of the World Bank for this purpose.
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