News
Talks with WB team to revive stalled projects
View(s):A World Bank delegation visiting Sri Lanka next month will discuss plans to revive a string of projects that were stalled due to the 2022-23 economic crisis.
Foreign Affairs Minister Vijitha Herath told the Sunday Times that stalled projects—including those in education, highways, and other infrastructure—as well as new projects, would be discussed with the visiting WB team, with the intention of completing them in the next five years.
The team is expected to discuss devastation caused by Cyclone Ditwah and the assistance required by the country.
In December, the World Bank assessed Sri Lanka’s cyclonic disaster damages at US$ 4.1 billion.
Ahead of the proposed visit, World Bank Group Executive Director Parameswaran Iyer, accompanied by World Bank Country Director for the Maldives, Nepal, and Sri Lanka, David Sislen, was in Sri Lanka this week and held discussions with Treasury Secretary Dr Harshana Suriyapperuma.
Meanwhile, International Monetary Fund (IMF) Managing Director Kristalina Georgieva is due in Sri Lanka on February 17, for a review of the progress of the Extended Fund Facility (EFF) programme.
She will meet President Anura Kumara Dissanayake on February 18.
The IMF is expected to take up the fifth and sixth reviews of the Extended Fund Facility with Sri Lanka. Each review leads to a disbursement of US$350 million.
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