Sri Lanka needs coordinated assistance to recover – WB, ADB, IMF, AIIB

Sri Lanka needs coordinated assistance to recover – WB, ADB, IMF, AIIB

Sri Lanka needs coordinated assistance to recover – WB, ADB, IMF, AIIB

Written by Staff Writer

06 Dec, 2022 | 2:22 pm

COLOMBO (News 1st) – The World Bank (WB), Asian Development Bank (ADB), International Monetary Fund (IMF) and Asian Infrastructure Investment Bank (AIIB) representatives have decided that a coordinated assistance program supported by the multilateral financial institutions is required for Sri Lanka to recover from the economic crisis the country is currently facing.

They reached the agreement following a lengthy round table discussion on Tuesday (06) with President Ranil Wickremesinghe in Colombo.

President Wickremesinghe had presented Sri Lanka’s development program associated with the economic recovery and growth along with the vision for long term development.

The President presented the program at the round table discussion in his capacity as the Minister of Finance, Economic Stabilization and National Policies.

The round table discussion was held with Vice President of the World Bank Martin Raiser, Vice President of the Asian Development Bank Shixin Chen, IMF’s Senior Mission Chief Peter Breuer and Dr. Urjit Patel of the Asian Infrastructure Investment Bank along with the senior officials of those institutions, who are currently in Sri Lanka.

Following the detailed discussion, it was agreed that a coordinated assistance program supported by the multilateral financial institutions is vital for Sri Lanka to recover from the present economic difficulties.

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