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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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The National War Heroes Commemoration tomorrow at Kotte Cenotaph

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The 16th National War Heroes Commemoration Ceremony will be held on Monday (19 May) at the National War Hero Cenotaph in Sri Jayawardenepura, Kotte, from 4.00pm to 6.00pm.

A series of island-wide community welfare programmes will also be carried out by armed forces, Police and Civil Security Department in view of the War Hero Commemorations.

Deputy Minister of Defence Major General Aruna Jayasekara (Retd) is expected to represent President Anura Kumara Dissanayake at the event. Field Marshal Sarath Fonseka, Admiral of the Fleet Wasantha Karannagoda and Marshal of the Sri Lanka Air Force Roshan Gunathilleke are also scheduled to attend the ceremony.

The Ministry of Defence on Friday convened a press conference to announce the preparations for the ceremony. Commanders of the Navy and Air Force, Army Chief of Staff, senior military officials and Ministry representatives were present at the press briefing.

Defence Secretary Air Vice Marshal Sampath Thuyacontha (Retd) underscored the national significance of the annual commemoration, paying tribute to the brave men and women of the armed forces, Sri Lanka Police and Civil Security Department who laid down their lives in the defence of the nation.

He reiterated the Ministry’s and the Tri-forces’ commitment to preserving the memory of fallen heroes, ensuring that their legacy of patriotism, sacrifice, and unwavering commitment to duty continues to inspire future generations.

During the briefing, officials of Ranaviru Seva Authority and armed forces provided an overview of the ceremonial proceedings, which will include wreath-laying, special tributes, and military honours, with the participation of distinguished guests, military personnel, and the families of war heroes.

The event seeks to serve as a solemn occasion for the nation to express its gratitude and respect for those who selflessly served the country’s sovereignty and national security.

The Ministry of Defence calls upon all citizens to stand in solidarity in remembering the nation’s war heroes, reaffirming collective appreciation for their dedication to protecting the country and its people.

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NMRA chief resigns, citing threats to life

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Saveen Semage, the Chief Executive Officer (CEO) of the National Medicines Regulatory Authority (NMRA), resigned with immediate effect yesterday, citing threats to his life.

On May 9, CCTV in his home captured two men breaking in and walking around the residence for around half an hour from 11.30pm to midnight. They were observed peeping into the bedroom where Dr. Semage slept. His wife and children were also asleep in the house.

Dr. Semage, a public health specialist, was appointed to the position in January 2024. He was also previously CEO from November 2021 to May 2022, when he resigned over differences with former Health Minister Keheliya Rambukwella. He was brought back last year by Ramesh Pathirana—who replaced Minister Rambukwella after he was forced to resign over irregularities in drug procurement—to clean up the drugs regulatory mechanism.

However, he faced stiff resistance from the pharma industry, particularly in his efforts to break drug monopolies and oligopolies that were blamed for rigging tenders (typically agreements among competitors to fix prices, allocate markets, or engage in other anticompetitive activity). He was also a victim of social media attacks largely blaming him for being politically motivated.

“There was a lot of tension within the NMRA and the pharmaceutical industry during the last two to three weeks because of my efforts in pricing and in breaking monopolies and oligopolies to save public funds,” Dr. Semage told the Sunday Times. “I think the break-in was a threat in an effort to remove me.”

“During the past 15 months, the NMRA has cleared the backlog of registrations and streamlined re-registration for drugs. He was also able to trace fake documents and to kick-start a digitalisation process that abruptly came to an end in 2021 when the NMRA database was mysteriously erased. During his term, the Authority also doubled its staff, taking in 30 new pharmacists, among others. The National Advisory Committee and Appeals Committee were also put in place, and a pricing mechanism, along with guidelines, was published.

(sundaytimes.lk)
(This story, originally published by sundaytimes.lk has not been edited by SLM staff)

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Dual citizenship backlog: 1000 to be issued soon

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The Department of Immigration and Emigration is struggling with a backlog of more than 3,000 dual citizenship applications piled up over the past few months, with some papers submitted more than seven months ago remaining unattended.

At least 1,000 of these applications have got the all clear from the relevant authorities, including clearance from the Police and the State Intelligence Service (SIS), but the applications have stalled at the department level, the Sunday Times learns.

The main dual citizenship applicant is required to pay US$ 2000 (around Rs 600,000), with the spouse and unmarried children below the age of 22 paying US$ 500 each. It is this category of applicants who contribute substantially to the income of the department.

Public Security Minister Ananda Wijepala, when contacted by the Sunday Times, admitted the clearance of dual citizenship certificates had slowed down and said that he had instructed the department to immediately begin the issue of certificates to around 1,000 applicants whose background checks had been completed. They will receive the certificates within a week.

“There has been a delay, but I have instructed the department officials to ensure that the work is expedited,” he said. The department’s citizenship division, which handles the applications, comes under a deputy or assistant controller.

Many dual citizenship applications are submitted through Sri Lanka’s overseas missions. “Applicants are inconvenienced by the delay in the issuing of the certificates, as those who have taken foreign citizenships need the dual citizenship from here for their land/property transactions, financial activities, etc.,” an applicant told the Sunday Times.
According to the performance report of the department for 2023, more than 7,300 dual citizenships were issued, but the latest statistics are not yet available.
Meanwhile, the Department of Motor Traffic has run out of new number plates.

(sundaytimes.lk)
(This story, originally published by sundaytimes.lk has not been edited by SLM staff)

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