27.8 C
Delhi
Friday, June 6, 2025

SL to seek 200 mln USD from WB for social security programs

Date:

Share post:

Donate-GC-Razorpay

Colombo: Sri Lanka’s cabinet of ministers approved a proposal to start discussions with the World Bank to obtain 200 million U.S. dollars for social security programs, a spokesperson said on Tuesday.

Cabinet spokesperson Bandula Gunawardena told journalists that President Ranil Wickremesinghe made the proposal in his capacity as the finance minister.

Gunawardena said that Sri Lanka has agreed to implement a robust social security network to protect the most vulnerable groups in the country as a part of the International Monetary Fund-supported 48-month Extended Fund Facility.

He said the World Bank has already agreed to provide a loan of 200 million dollars to support social security programs, and the discussions with the World Bank will be to finalize the funding.

Sri Lanka’s cabinet of ministers also endorsed a proposal in April to authorize the finance ministry to proceed with negotiations seeking a 350 million dollar loan and another 1.5 million dollar grant from the Asian Development Bank.

Related articles

BJP confident despite potential Shiv Sena-MNS alliance in Mumbai polls

Mumbai: The BJP remains unfazed by the possibility of an alliance between Uddhav Thackeray’s Shiv Sena (UBT) and...

Central Govt anticipates rise in income levels, overall rural prosperity

Kochi: As scientists working closely with farming communities, the Union Government anticipates a measurable rise in income levels...

Two Americans among 63 stranded tourists airlifted from N Sikkim

Gangtok: Two US citizens among 63 stranded tourists, including children and women, were successfully airlifted from landslide-ravaged Chaten...

Assam flood: Death toll rose to 14, over 6 lakh still affected

Guwahati: A total of 19 districts in Assam are still reeling under flood affecting 6,78,877 people including women...