17 active projects in Sri Lanka will be redesigned by the World Bank. Faris Hadad-Zervos, the World Bank’s Country Director for Sri Lanka, says that after reaching an agreement with the IMF, the organization would provide additional assistance.
According to him, there are 17 ongoing World Bank-funded projects in Sri Lanka that will be revised to offer financial support for the country’s current predicament.
The President of Sri Lanka explained the nation’s existing state and the necessity of giving World Bank loan assistance to banks and other financial entities.
The representatives were asked by President Rajapaksa to take appropriate actions to provide such financial support to those working in agriculture, livestock, small and medium-sized businesses, and other related industries at reasonable interest rates.
The representatives of the World Bank stated that money has already been set aside for domestic gas and fertilizer supply.