An agreement is to be reached between Sri Lanka and the World Bank to procure necessary funds for the National Budget.
Under the agreement, Sri Lanka will receive USD 500 million from the World Bank, and the Cabinet has approved the receipt of the funds.
This is the largest financial support the country is receiving since the Extended Fund Facility of USD 2.9 million agreed to be released to Sri Lanka by the International Monetary Fund (IMF) in March.
Last week, the international media reported that the World Bank has approved to release USD 700 million to Sri Lanka.
Accordingly, it is expected that the remaining USD 200 million will be given to the social security programme.
