World Bank rules out bridge financing to crisis-hit Sri Lanka

World Bank rules out bridge financing to crisis-hit Sri Lanka

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said. The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to overcome the financial crisis in the form of a bridge loan or new loan commitments.

World Bank rules out bridge financing or new loan commitments to crisis-hit Sri Lanka

The World Bank said that they are reshuffling the already allocated resources to provide essential medicines and other cash assistance to the vulnerable

World Bank rules out bridge financing to crisis-hit Sri Lanka

Sri Lanka is near bankruptcy and has severe shortages of essentials from food, fuel, medicines and cooking gas to toilet paper and matchsticks

World Bank Rules Out Bridge Financing To Crisis-Hit Sri Lanka

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said.The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to overcome the financial crisis in the form of a bridge loan or new loan commitments.However, the bank …