Sri Lanka to obtain IDA loan for reforms, competitiveness

June 22, 2016 (LBO) – Sri Lanka’s cabinet has approved obtaining a 100 million US dollar loan from the International Development Agency to develop the Sri Lankan economy by implementing reforms under three aspects.

Removal of obstacles for the competitiveness in private sector, transparency and improvement of management in public sector, and improvement of the fiscal sustainability are the three aspects.

Prime Minister in his capacity as the Minister of National Policies and Economic Affairs has made the proposal.