World Bank details funding for Sri Lanka so far

World Bank details funding for Sri Lanka so far

World Bank details funding for Sri Lanka so far

Written by Teena Marian

18 Aug, 2022 | 11:22 am

COLOMBO (News 1st); The World Bank has moved quickly to help protect the people of Sri Lanka particularly the poor and vulnerable from the worst impacts of the economic crisis.

The World Bank’s crisis response is repurposing funds from existing World Bank-financed projects to address the people's most pressing needs, including cash transfers, liquid petroleum gas, and fertilizer.

in addition, ongoing projects in the health and education sectors will deliver medicines and medical supplies, school meals, and fee waivers for preschool children from vulnerable families.

The World Bank is working closely with implementing agencies to establish robust controls and fiduciary oversight to ensure these resources reach the poorest and most vulnerable. This will be monitored closely and adhere to World Bank fiduciary and safeguards requirements under emergencies. 

The Bank is closely coordinating its support with other development partners, including the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the United Nations (UN) to maximize the impact of its support for the people of Sri Lanka.

SOCIAL PROTECTION

$145 million
(disbursed to date)

About 3 million poor and vulnerable Sri Lankans received emergency cash transfers from May July 2022.

Elderly, chronic kidney disease patients, people with disabilities, and participants in the Samurdhi welfare program (existing and waitlisted recipients) were prioritized as beneficiaries in all districts.

They received cash assistance payments of between LKR 5,000 and LKR 7,500 monthly as supplementary support through Divisional Secretariats, post offices, and through Samurdhi and other nominated bank accounts.

LP GAS

$26.7 million
(disbursed to date)

1.5 million LP gas cylinders were distributed to urban and semi-urban households and businesses

Nearly 40 percent of Sri Lanka’s population and 77 percent of the urban population is severely affected by the LPG or cooking gas shortage.

LP gas is the only option available for cooking for most of the urban and semi-urban population.

World Bank financing is supporting the purchase of 70,000 MTs of LP gas to cover roughly over 3.5 months’ supply (July – October) to reduce acute shortages and help families and small businesses.

MEDICINES & MEDICAL SUPPLIES

$20.4 million

Essential medicines, medical supplies, and nutritional supplements are urgently needed to strengthen health resources.

The World Bank has delivered essential medicines worth $20.4 million to the Ministry of Health.

The medicines will be distributed to all public hospitals at no cost, based on need, estimations, and disease patterns to ensure sufficient supplies to combat the COVID-19 pandemic and other life-threatening diseases.

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