World Bank to provide $500 million budget support to Sri Lanka
A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. Photo :Reuters
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, according to a government statement.
Funding from the World Bank will come in two tranches, the statement said.
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