Cabinet Approves US$ 100 Mn World Bank Facility for Northern and Eastern Development

The Cabinet of Ministers has approved a proposal submitted by the President, in his capacity as the Minister of Finance, Planning and Economic Development, to enter into financial agreements with the World Bank Group’s International Development Association to obtain a US$ 100 million loan facility.

This allocation forms part of a broader US$ 1,000 million financial package earmarked by the International Development Corporation for Sri Lanka over the 2026–2031 period. Following initial Cabinet approval on February 9, 2026, loan negotiations between the Government of Sri Lanka and the World Bank Group have officially concluded.

The US$ 100 million facility will finance the Northern and Eastern Provinces Integrated Regional Development Program, an initiative designed to accelerate sustainable regional growth, strengthen economic potential groups, promote micro, small, and medium enterprises, enhance competitiveness, and improve local livelihoods by expanding economic opportunities and connectivity.