Reuters reports that Sri Lanka is going to enter into an agreement with the World Bank to get 500 million dollars in funds needed for the budget.
It also states that this agreement will be reached after approval by the cabinet meeting today.
This amount is the largest tranche of funding received by the country since the approval of the International Monetary Fund’s financial facility last March.
Last week, Reuters reported that the World Bank is likely to approve $700 million in budget and welfare assistance for Sri Lanka at its June 28 board meeting.
Also, 200 million dollars will be allocated for welfare programs.
