Last Chance

Kris Canekeratne at LBR LBO Tech Conference

The government and the World Bank will sit together for a final round of talks soon to finalise a big budgetary finance loan.
The third meeting will be the last between the two parties before a proposal is put before the World Bank board in May.rn

rnIf a final deal is struck at the meeting the first tranche of the loan could arrive early June.rn

rnWorld Bank country director Peter Harrold told LBR that the negotiations are at an advanced stage while the total loan amount could run into hundreds of millions of dollars.rn

rnIf approved the budgetary support loan would come on the back of a long-term balance of payments support loan provided by the IMF.rn

rnThe International Monetary Fund board will meet on the thirty-first of next month to approve the long term Growth Facility loan to Sri Lanka.rn

rnEconomists expect the country to get around US$ 400 mn from the IMF.rn

rnThe two bilateral lenders generally coordinate their long term lending to member governments.rn

rnThe loans will go to su