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World Bank approves $150 mn. to strengthen Finance sector

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The World Bank’s Board of Executive Directors on Thursday (Nov. 09) approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.

“Sri Lanka’s economic crisis highlights the need for strong safety nets to support the financial sector. Stable and reliable banking sector is essential for the economy, businesses and individuals, small businesses and poor households,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.

“Strengthening the Deposit Insurance Scheme will help protect the savings of smaller depositors, including women and people living in rural areas. It will also sustain the confidence in Sri Lanka’s financial system, a critical part of building the country back better,” he added.

The Financial Sector Safety Net Project is designed to boost the financial and institutional capacity of the Sri Lanka Deposit Insurance Scheme (SLDIS), which is managed by the Central Bank of Sri Lanka.

“Strengthening the financial sector safety net is crucial for maintaining financial stability during a macro-debt crisis,” said Alexander Pankov, Lead Financial Sector Specialist and the Task Team Leader for the project. “A robust deposit insurance system, along with enhanced supervision and resolution frameworks, will safeguard public confidence in the financial system and protect people’s savings.”

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Several showers expected today

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Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in Nuwara-Eliya, Kandy, Galle and Matara districts today (July 03), the Department of Meteorology said.

Showers or thundershowers may occur at a few places in the Uva province and in Ampara and Batticaloa districts during the afternoon or night.

Meanwhile, fairly strong winds of about 30-40 kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Trincomalee and Hambantota districts.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

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Kahawatte OIC transferred

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The Officer-in-Charge (OIC) of the Kahawatte Police has been transferred to the Jaffna Police Division to facilitate the investigation into the youth who was shot dead on June 30 in Kahawatte, Police said.

A 22-year-old youth died while another was critically injured in a shooting incident in the Yainna area of Kahawatte.

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List of families eligible for ‘Aswesuma’ Phase 2, released

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The list of eligible families selected for the second phase of the ‘Aswesuma’ welfare benefit allowance has been officially released.

The list has been displayed on the notice boards of all Divisional Secretariat offices and Grama Niladhari officers as well as in the offices of the relevant field officers in charge of the subject. It has also been published on the official website of the Welfare Benefits Board, (www.wbb.gov.lk).

Furthermore, applicants who believe there is an error or any changes in the information provided during the second stage of data collection, and whose names are not included in the list of eligible candidates, have the opportunity to submit an appeal.

Additionally, individuals who submitted initial applications for ‘Aswesuma’ Phase 2 but were not visited by a government field officer for housing data collection are also eligible to appeal.

Before filing an appeal, all applicants are advised to review the information recorded about their households in the IWMS database during the housing data collection process.

Appeals and objections can be submitted through the official website by accessing the Appeals and Objections section. For further assistance, applicants are also advised to visit their nearest ‘Vidatha’ Resource Centre when submitting appeals and objections online.

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