January 19, 2020
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    World Bank to continue concessionary loans – Finance Minister

    December 19, 2016

    World Bank (WB) has agreed to grant a USD 1,340 million concessionary loan for the development activities of Sri Lanka. It has officially been informed to the Government of Sri Lanka by the World Bank.


    According to the finance minister Ravi karunanayake, the loan will be received to the country within next three years with a grace period of 15 years to recover it.


     He said, “Sri Lanka will become a mid-income country in 2017 and the per capita income will be around USD 4,000. With this situation, the number of concessionary loans received by Sri Lanka will be reduced. But, at a time the country has started a new journey, although the per capita remains at USD 4,000, we requested the WB to continue the concessionary loans granted to us even in the future. ”


    According to minister Karunanayake, Sri Lanka will receive this loan as a result of that request as a low-interest loan to settle in 15 years. “This is a great strength to us as a country. It shows the trust that the WB has towards us.”

    Last modified on Monday, 19 December 2016 12:55

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