World Bank positive about Sri Lanka’s progress, wants to increase aid: Ravi K

Aug 31, 2016 (LBO) – Sri Lanka’s Finance Minister says multilateral donor World Bank is keen to increase its aid following Sri Lanka rapidly achieving its development goals which were set at the time loans were granted to it.

“The World Bank is very happy with the progress made so far in the projects that are funded by the organization and the progress of the new government and the fiscal discipline that has been put into place,” Ravi Karunanayake, Finance minister said.

“This is why they have pledged further support. They want to speed up Sri Lanka’s journey towards higher growth and prosperity with more aid.”

He was speaking following a meeting with the World Bank’s South Asia Region Vice President, Anntte Dixon.

She is on a two day visit and has been visiting World Bank supported projects aimed at enhancing economic growth and development.

Minister Karunanayake added that the aim of the government was to further increase the pace of these development projects while he lauded the assistance extended by the World Bank.

The World Bank Group’s activities are guided by a Country Partnership Framework (CPF) which is agreed upon with the government of Sri Lanka. The CPF will guide the collaboration for the next 4 years until June 2020. The World Bank’s current portfolio consists of 1.8 billion US dollars in financing commitments.