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World Bank set to approve $700 mn. for SL next week?

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The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.

The economy of the country of 22 million is expected to shrink 2% this year before returning to growth next year, the government estimates, following last year’s record contraction of 7.8% after foreign exchange reserves hit record lows.

The International Monetary Fund approved a bailout of nearly $3 billion in March, which Sri Lanka expects will bring additional funding of up to $4 billion from the World Bank, the Asian Development Bank and other multilateral agencies.

Of the proposed World Bank funding, $500 million will be for budgetary support and is likely to come in two tranches of $250 million each, one of the sources, from the World Bank, said.

All four sources, from the World Bank and the Sri Lankan finance ministry, sought anonymity as they were not authorised to talk to the media.

The first tranche is likely to be disbursed immediately after board approval with the next possibly in October, as the bank watches the progress of Sri Lanka’s debt restructuring and the first review of the IMF programme, due in September, the World Bank source added.

The remaining $200 million will be earmarked for programmes to assist the poor, whose numbers have doubled to 25% of the population since the onset of the Indian Ocean nation’s worst economic crisis early last year, another World Bank source said.

“Households that have registered for support will be ranked … and the lowest 2 million will be eligible for support,” the source added.

The World Bank and the finance ministry did not immediately respond to requests for comment.

(Reuters)

(Except for the headline, this story, originally published by Reuters.lk has not been edited by SLM staff)

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Police hunt for ‘Teacher Amma’ after alleged assault on youth

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Police have launched an investigation to arrest the popular tutor Hyeshika Fernando, also known as ‘Teacher Amma’, for allegedly assaulting a young man.

It is reported that Hayeshika Fernando had kicked the young man’s testicles, after which he was admitted to the Negombo Hospital for treatment.

Following the incident, Hyeshika Fernando had fled the area, but her husband and her manager had been taken into custody by the Katana Police.

After being produced before the Negombo Magistrate’s Court, the two suspects were ordered to be remanded until May 14.

The Magistrate has also instructed the Katana Police to carry out further investigations and to arrest and produce in court the main suspect in the case — the tutor Hyeshika Fernando, popularly known as ‘Teacher Amma’.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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State Vesak Festival 2025 begins (Pics)

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The State Vesak Festival for the Buddhist Year 2569 commenced today (10) at the International Buddhist Centre Temple in Nuwara Eliya, under the patronage of the Most Venerable Maha Nayaka Theros of the Three Nikayas and with the participation of President Anura Kumara Disanayake. 

This year’s State Vesak Festival is held under the theme “Bhajetha Miththe Kalyane–Bhajetha Purisuththame”  (Associate with noble friends of virtue) and will be conducted from May 10 to 16, cantered around the Nuwara Eliya District.

Organized in line with the guidance of the Most Venerable Mahanayaka Theros and the directives of the All Island Shasanarakshaka Mandalaya, the festival is  coordinated by the by the Presidential Secretariat, the Prime Minister’s Office, the Ministry of Buddhasasana, Religious and Cultural Affairs, the Department of Buddhist Affairs, the Central Provincial Council and the District Secretariat of Nuwara Eliya.

In conjunction with the declaration of the ‘Vesak Week’ from May 10 to 16, a series of Buddhist religious programmes have been organized in accordance with government policy to promote the spiritual development of the people. Additionally, on-going development work at several temples in the Nuwara Eliya District will be completed during this period with the support of the tri-forces.

Further, a number of special programmes are being implemented under the “Clean Sri Lanka” initiative to foster spiritual growth and Buddhist awareness among the public in parallel with the State Vesak Festival.

Hosting this year’s State Vesak Festival in the multi-religious and multi-cultural Nuwara Eliya District is of special significance. It aims to foster Buddhist enlightenment across the country and further strengthen ties with Buddhist nations around the world.

To mark the occasion of 2569th State Vesak Festival, a commemorative stamp was issued, with the first stamp being officially presented to the President.

The event also included the presentation of ‘Sri Sannas Patra’ (official declarations) designating the historic Maliyadeva Purana Raja Maha Viharaya in Kotmale and the Sri Vishnu Devalaya in Kurunegala as sites of religious worship, both formally handed over by the President. 

The event was graced by prominent members of the Maha Sangha, including Chief Registrar of the Malwathu Chapter of the Siam Maha Nikaya and Chief Incumbent of the Somawathi Raja Maha Viharaya Most Venerable Dr. Pahamune Sri Sumangala Nayaka Thero, Anunayake of the Asgiri Chapter of the Siam Maha Nikaya Anamaduwe Most Venerable Sri Dammadassi Nayaka Thero together with the Maha Sangha representing the three Nikayas, The Chairman of the All Island Shasanarakshaka Mandalaya, Most Venerable Professor Thubulle Seelakkhanda Nayaka Thera, the Chief Registrar of Samastha Lanka Shasanarakshaka Balamandala, Venerable Muganuwala Anuruddha Nayaka Thera, along with the Maha Sangha of the Samastha Lanka Shasanarakshaka Balamandalaya.  

Also in attendance were multi-religious clergy, Speaker of Parliament Jagath Wickramaratne, Minister of Buddhasasana, Religious, and Cultural Affairs Dr. Hiniduma Sunil Senevi, other Ministers and MPs, Secretary to the President Dr. Nandika Sanath Kumanayake, senior government officials, foreign Ambassadors, High Commissioners, and a distinguished gathering of local and international guests.

(President’s Media Division)

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India – Pakistan agrees to a ‘full and immediate’ ceasefire

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Donald Trump says “India and Pakistan have agreed to a full and immediate ceasefire”.

In a post on social media platform Truth Social, the US President says: “After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE.

“Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!”

India’s External Affairs Minister S Jaishankar says “India and Pakistan have today worked out an understanding on stoppage of firing and military action”.

“India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so,” he adds.

The Indian Foreign secretary – Vikram Misri has confirmed that the ceasefire between the two countries began at 17:00 local time (12:30 BST).

Meanwhile, Deputy Prime Minister of Pakistan, Ishaq Dar has also confirmed the news and added that “Pakistan has always strived for peace and security in the region, without compromising on its sovereignty and territorial integrity!”

According to a statement by the Pakistan Airport Authority (APA), Pakistan’s airspace has been fully restored for all types of flights. The APA statement adds that all airports in the country are available for normal flight operations.

(Agencies)

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