Finance Minister aims to increase annual aid from IMF, WB

Ravi-Karunanayake

Oct 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake who left the island to attend the 2015 Annual Meetings of the World Bank Group and the IMF is currently aiming at increasing annual aid to Sri Lanka.

Sri Lanka receives long term aid of 400 million US Dollars annually from these two institutions, the Finance Ministry said in a statement.

“WB/IMF provides Sri Lanka long term credit with the repayment period up to 40 years and the grace period of seven years with 2 percent interest,” Treasury Secretary Dr Samarathunga said.

Presently this aid is used in developing infrastructure facilities in different sectors of the economy, the Finance Ministry said.

The ministry said Minister Karunanayake will hold special discussion with World Bank and IMF team on the aid provided to Sri Lanka.

“This year’s discussion by Minister Ravi Karunanayake with the IMF team is aimed at increasing the annual aid to Sri Lanka towards more areas of activities.” the Ministry said.

The Minister was accompanied by the Central Bank Governor and Treasury Secretary.

Subscribe
Notify of
guest
10 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
SAs
SAs
6 years ago

Both S.Korea and Taiwan used a lot of US and western aid to develop

rookie
rookie
6 years ago

What is Sri Lanka’s economic strategy? we are like headless bodies wondering around….

Geronimo
Geronimo
6 years ago

Ravi is not aware of what is and has been going on for the last few years. IMF,WB, US, Europe & UK are bankrupt. There are alternatives springing up for IMF,WB, SWIFT, Rating Agencies, USD/GBP/EURO, etc. Even there are alternative technologies for producing electricity which are be a little shocking to the anglo centric world. Just follow what has happened in the last week in the military front in Syria. As Srilankans we are being led by stupid asses. The current ones always worse than the previous. The current ones seem to have been asleep for the last 20 years and just woke up, as they are running with a begging bowl to their previous anglo colonial masters, not knowing that the masters are totally broke now. USD/GBP/EURO/YEN are toilet paper my friends. It is sad, these ex-masters are using printed money to control developing countries like India, Srilanka, etc by using scare tactics such as global warming, islamic terrorism, etc; and we are really really stupid to fall into their traps YET AGAIN.

Sas
Sas
6 years ago
Reply to  Geronimo

This is not about Colonial BS and no one you said is bankrupt

expat
expat
6 years ago
Reply to  Sas

Only GREECE 🙂

Sas
Sas
6 years ago
Reply to  expat

Well he didn’t mention greece.

expat
expat
6 years ago
Reply to  Sas

he did by proxy :- Greece is part of EU and some of the EU troubles are due to Greece 🙂
dont get ur knickers in a knot ma8 ; when people say stupid things reply in the same tone LOL

” Answer a fool according to his folly, or he will be wise in his own eyes.”

Sas
Sas
6 years ago
Reply to  expat

Oh that…………..
Anyway the comment sections of LBO are filled with these Colonial stuff and other nonsense these days

Karun
Karun
6 years ago
Reply to  Geronimo

Do you even know what bankrupt even means?

Saranga
Saranga
6 years ago

Still begging