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Sri Lanka says India, World Bank consider US$2 billion bridge finance

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COLOMBO: Sri Lanka\u0027s finance minister said on Friday (Apr 22) that its neighbour India and the World Bank are considering extending about US$2 billion in bridge finance so it can continue essential imports. The country of 22 million people is struggling to pay for imports after a sharp drop in foreign exch

COLOMBO: Sri Lanka's finance minister said on Friday that its neighbour India and the World Bank are considering extending about US$2 billion in bridge finance so it can continue essential imports.

The government has asked some creditors to restructure its debt and also approached China, Japan and the Asian Development Bank amongst others for help, Ali Sabry said. "Talks with the World Bank have also been very positive," Sabry said, adding:"In the next four weeks to six months we expect about US$500 million from them, which will be partly used to provide direct cash transfers to the poor."

 

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Sri Lanka says India, World Bank consider $2 billion bridge financeCOLOMBO : Sri Lanka's finance minister said on Friday that its neighbour India and the World Bank are considering extending about $2 billion in bridge finance so it can continue essential imports.The country of 22 million people is struggling to pay for imports after a sharp drop in foreign exchange reser
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