Courtesy Adaderana

The World Bank will increase assistance to Sri Lanka under three of its new operations, the World Bank Vice President for South Asia Region, Hartwig Schafer said today (18).

The three World Bank operations include assisting the agriculture sector faced with climatic vagaries, irrigation, renewable energy, climate resilience operations and renovation of tanks in rural areas.

Mr Schafer stated this when he called on President Maithripala Sirisena at the President’s Office today. Referring to the Easter Sunday terror attack and its impact on the economy, he has said that the World Bank would provide monetary assistance to reduce the budget gap so that Sri Lanka could continue global borrowings with a sound economic footing, the President’s Media Division (PMD) reported. 

President Sirisena has expressed his gratitude to the World Bank for the long-standing financial support given to Sri Lanka. He has made a special mention about the World Bank’s support extended to Sri Lanka in the aftermath of the challenges faced due to the April 21 terrorist attack, the PMD said.

Expressing his pleasure over the quick recovery made by Sri Lanka after the terrorist attack, the WB Vice President commented that the global community stands by Sri Lanka at this moment of need.

Mr Schafer, who is in Colombo to chair the World Bank Senior Regional Managers Meeting, stated that the World Bank decided to hold its annual session in Colombo to show solidarity with Sri Lanka as the country is trying to restore normalcy after the terrible terrorist attack on Easter Sunday.

He congratulated Sri Lanka for rising to the level of Upper Middle Income Country and said it is a testimony of country’s resilience.

WB Country Director Idah Z Pswarayi-Riddihough, IFC Country Manager Amena Arif, Senior Operations Officer Anne-Kartin Arnold and Additional Secretary to the President, Esala Weerakoon also took part in the discussion.