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The World Bank says it will not lend to Sri Lanka again

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The World Bank says it will not lend to Sri Lanka again until an adequate macroeconomic policy framework is in place.

“Recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, among other incorrect assertions,” the World Bank said in a statement.
The World Bank is concerned about the people of Sri Lanka and is advising on appropriate policies to restore economic stability and broad-based growth in collaboration with the IMF and other development partners.
The World Bank does not intend to provide new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, according to the bank.
“We are currently repurposing resources from previously approved projects to assist the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses,” the World Bank added.

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