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World bank releases US$250mn budget support to SL

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Washington-based World Bank said has announced that it had released a 250 million US dollar budget support loan to Sri Lanka out of 500 million which was originally approved in June.

The second tranche is released after assessing that “satisfactory progress is being made on reforms, the macroeconomic policy framework remains adequate, and the Banking (Special Provisions) Act has been enacted, the statement said.

“Continued momentum on economic and structural reforms is critical not only to stabilize the economy, but also to unleash its potential for private sector-led growth and transformation,” Faris H. Hadad-Zervos, World Bank Country Director for Sri Lanka said in the statement.

The reform-based lending is co-ordinated with the IMF, ADB and other agencies, the World Bank said.

Sri Lanka is getting a series of budget support loans from lending agencies linked to completed structural benchmarks in the IMF program.

(economynext.com)

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94th Battle of the Maroons ends in a draw (Pics)

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The 94th Battle of the Maroons between Ananda and Nalanda concluded in a draw at SSC grounds. 

Despite the draw, Ananda secured a first innings lead, having declared their first innings at 286 for 9 wickets in response to Nalanda’s first innings total of 277 for 8 wickets, which was declared on the first day.

In the second innings, Nalanda, batting at 120 for 3 wickets, maintained a cautious approach, and the match ended without either team pursuing a more aggressive strategy in their first innings.

Ananda’s all-rounder Kithma Withanaparhirana played a notable innings, scoring 76 runs in 92 balls with 11 fours and a six on the second day. 

However, the team fell short of a century, with number three batter Dinada Athalage contributing a significant knock of 71 runs in 165 balls with 9 fours.

Despite the draw, the match witnessed commendable performances from key players, with Nalanda skipper Sajitha Vithanage earning the Man of the Match award for his unbeaten century.

Both teams showcased sportsmanship in the annual encounter, and Nalanda retained the N.M. Perera Trophy, presented by former Nalandian legend Stanley Jayasinghe. 

The trophy has been a symbol of the prestigious Battle of the Maroons series.

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Term tests for Western province suspended

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The term tests for grade 10 and 11 in the Western province schools has been postponed after some of the question papers were shared on social media ahead of the examination.

A senior official said that the decision had been taken after complaints that several question papers had been leaked out before the examinations.

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Russian Naval Ship Varyag Visits Colombo

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The Russian Naval Ship Varyag has arrived at the port of Colombo on a formal visit. 

This 187m long Missile Cruiser, manned by a crew of 529, is led by Flag Officer Captain 1st Rank Velichko Anatoly Vasicievich, with Captain 2nd Rank Glushakov Roman Nikolaevich serving as the Commanding Officer.

During their stay in Sri Lanka, the ship’s crew is expected to participate in various programs organized by the Sri Lanka Navy, fostering camaraderie and exploring tourist attractions in the country. 

The official visit will conclude, and Varyag is set to depart from the island tomorrow.

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