{"id":135236,"date":"2023-06-27T17:03:52","date_gmt":"2023-06-28T00:03:52","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=135236"},"modified":"2023-06-27T17:03:52","modified_gmt":"2023-06-28T00:03:52","slug":"sri-lanka-to-obtain-500m-in-budget-support-from-world-bank","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2023\/06\/27\/sri-lanka-to-obtain-500m-in-budget-support-from-world-bank\/","title":{"rendered":"Sri Lanka to obtain $500m in budget support from World Bank"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Nikkei Asia<\/em><\/span><\/h2>\n\n\n<p>Funding would be biggest infusion for crisis-hit nation since IMF deal<\/p>\n\n\n\n<p>COLOMBO (Reuters) &#8212; Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.<\/p>\n\n\n\n<p>The island nation of 22 million is emerging out of its worst economic crisis in seven decades and its economy is expected to shrink 2% this year before returning to growth next year, following last year&#8217;s record contraction of 7.8%.<\/p>\n\n\n\n<p>Reuters reported last week that the World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its board meeting on June 28, out of which $200 million will be for welfare programs.<\/p>\n\n\n\n<p>The government said on Tuesday that funding from the lender will come in two tranches.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Nikkei Asia Funding would be biggest infusion for crisis-hit nation since IMF deal COLOMBO (Reuters) &#8212; Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-135236","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/135236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=135236"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/135236\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=135236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=135236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=135236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}