News

Cabinet nod to obtain USD 200 mn. World Bank funding

Published

2 years ago

July 25, 2023

editor

The Cabinet of Ministers has granted approval to enter into an agreement with the International Development Association of the World Bank Group in order to obtain funding for the implementation of a project to strengthen the social security system in Sri Lanka.

Earlier on May 08, 2023, the Cabinet had approved to negotiate agreements with the World Bank Group to obtain the necessary funds to implement a project that will provide better-targeted income support and livelihood opportunities to the poor and vulnerable, and strengthen the social security system.

During the negotiations held accordingly, the World Bank agreed to provide a loan amounting to USD 200 million in the form of three components including USD 185 million to support the ‘Aswesuma’ welfare benefits programme, USD 07 million to support the implementation of a pilot project to strengthen the selected beneficiaries, and USD 08 million to strengthen the overall project management and social security system.

Accordingly, the Cabinet of Ministers has approved the proposal presented by the President as the Minister of Finance, Economic Stabilization and National Policy to enter into the relevant agreement with the International Development Association of the World Bank Group to obtain the loan of USD 200 million from the World Bank.

News

Nishantha Wickremesinghe remanded (Update)

Published

1 hour ago

June 27, 2025

editor

Former Chairman of SriLankan Airlines Nishantha Wickremesinghe has been remanded until July 01.

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(Previous News : June 27, 2025 4.41pm)

2 ex-heads of govt. institutions, arrested

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested two former Chairmen on corruption charges.

Former Chairman of the Fisheries Corporation – Upali Liyanage and former SriLankan Airlines Chairman – Nishantha Wickremesinghe have been arrested in this manner.

However, Liyanage, who was produced before Colombo Chief Magistrate Thanuja Lakmali Jayathunga, was released on three sureties amounting to Rs. 5 million.

News

Body of undergrad who went missing at Port City beach, found (Update)

Published

4 hours ago

June 27, 2025

editor

The body of the undergraduate who had gone missing at the Port City beach, has been found.

The body was found during a search by divers.

(Previous News on 27th June 2025 at 10.06 am)

Undergrad goes missing at Port City beach while snorkeling

A 24-year-old university student from Asgiriya, Gampaha, has gone missing yesterday morning (June 26) while swimming in the sea off the Colombo Port City beach.

According to the police, the student, a resident of Gampaha, was part of a group of students from the Universities of Colombo and Moratuwa who had visited the artificial beach and engaged in snorkelling.

The student failed to resurface, prompting a complaint to the Colombo Port Police.

Lifeguards later recovered the snorkeling gear believed to be belonging to the missing student.

A joint search operation involving Navy divers from the Colombo Port and Rangala Navy Division is currently underway. Further investigations are underway by the Colombo Port Police.