Sri Lanka receives $250 million as first tranche of World Bank budgetary support
Sri Lanka has received USD 250 million as the first tranche out of a USD 500 million World Bank budgetary and welfare support, an official statement said on Tuesday, as part of the efforts to revive the bankrupt island nation's economy.
This was the biggest multilateral funding approved for Sri Lanka since the island nation struck a bailout deal with the International Monetary Fund (IMF) in mid-March. Image Courtesy: Reuters.