The World Bank has rejected a statement by the Foreign Ministry stating that it has promised to provide about $ 700 million to Sri Lanka in the coming months.
In a statement, World Bank Sri Lanka Director Faris H. Hadad-Zervos said media reports that the World Bank was planning to provide assistance to Sri Lanka as a bridge loan facility or a new debt obligation were untrue.
The World Bank is concerned about Sri Lankans and will coordinate with other development partners, including the IMF, to advise on appropriate policies to restore economic stability and broader growth.
The World Bank does not plan to provide new financial assistance to Sri Lanka until an acceptable and successful economic policy framework is put in place.
The rulers of Sri Lanka who lied to Sri Lankans for many years have not yet learned the lessons and still think that Sri Lankans are ignorant. Russia has also denied a recent statement by Minister Kanchana Wijesekera regarding Russia.
See the World Bank announcement below
“ECONOMYNEXT – The World Bank reiterated on Monday (30) that it does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place.
World Bank Country Director for the Maldives, Nepal and Sri Lanka Faris H. Hadad-Zervo tweeted Monday afternoon that media reports of World Bank support highlighting specific numbers were inaccurate.
He was ostensibly referring a statement by Sri Lanka’s Foreign Ministry that had claimed World Bank Country Manager in Colombo Chiyo Kanda had assured USD 700 million to Sri Lanka in the next few months.
“Recent media reports have given specific numbers of immediate World Bank support. This is not accurate. We are concerned for the people of #SriLanka and are working closely with development partners.
“We are repurposing some resources from existing projects & advising on policies to restore economic stability & help reverse policies of the past. Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka,” he said”
