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Sri Lanka secures USD 200 million from World Bank’s IDA for second phase of RESET Program
The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program.
The agreement was signed today (07) by K.M. Mahinda Siriwardana, Secretary to the Ministry of Finance, Economic Development, Policy Formulation, Planning, and Tourism, and David N. Sislen, World Bank Country Director for Sri Lanka in the presence of President Anura Kumara Dissanayake.
This financing is part of the World Bank’s continued commitment to assist Sri Lanka in its comprehensive reform agenda. The RESET DPF program, which operates in tandem with the IMF’s Extended Fund Facility (EFF), is aimed at addressing the root causes of the island nation’s ongoing economic crisis. The two-year program (2023–2024) is designed to restore stability through macroeconomic adjustments while protecting the poor and vulnerable. The first phase of the program, implemented in 2023, successfully secured USD 500 million after meeting seven key prior actions under three pillars.
The three key pillars of the RESET DPF program are:
1. Improving Economic Governance: Strengthening fiscal discipline, transparency, and accountability in public resource management while safeguarding financial stability.
2. Enhancing Growth and Competitiveness: Unlocking Sri Lanka’s growth potential through a more competitive private sector.
3. Protecting the Poor and Vulnerable: Shielding the most affected segments of society from the economic fallout of the crisis.
In 2024, the Government of Sri Lanka plans to access the USD 200 million loan from the IDA to support the second phase of the RESET program. To qualify, the government must fulfill nine prior actions under the three key pillars and maintain a sound macroeconomic policy framework. The World Bank Board granted approval for the financing facility, which will take effect upon the signing of the Financing Agreement.
This financial assistance from the World Bank is expected to play a crucial role in stabilizing Sri Lanka’s economy and preventing a recurrence of similar crises in the future, while fostering a more inclusive and competitive economic environment.
[PMD]
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Showers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Uva and Southern provinces and in Anuradhapura district
WEATHER FORECAST FOR 08 OCTOBER 2026
Issued at 05.30 a.m. on 08 October 2026 by the Department of Meteorology
Misty conditions can be expected at some places in the Western, Sabaragamuwa, Central and Uva provinces and in Galle and Matara districts during the early hours of the morning.
Showers or thundershowers will occur in the most part of the island after 1.00 p.m. Heavy showers above 100 mm are likely at some places in Western, Sabaragamuwa, Central, Uva and Southern provinces and in Anuradhapura district.
The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.
Former first lady Shiranthi Rajapaksa, wife of former President Mahinda Rajapaksa was produced before the Hulftsdorp court, after being arrested by officers of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and produce
Smriti Mandhana has been named India’s all-format women’s captain on the same day Harmanpreet Kaur stepped down from the role after nearly a decade since she first took over.
Mandhana – vice-captain to Harmanpreet for much of this period – has previously led India in four ODIs and 18 T20Is, apart from captaining Maharashtra in domestic cricket and Royal Challengers Bengaluru in the Women’s Premier League.
Mandhana’s first assignment will be the limited-overs series against Zimbabwe beginning with the three T20Is in Raipur from October 16. On Tuesday, Mandhana was part of the selection meeting chaired by Amita Sharma to pick the squad for the tour.
Terming the appointment a “special honour”, Mandhana also acknowledged the contributions of her predecessor in her welcome note.
“I would also like to acknowledge Harmanpreet and the contribution she has made as captain over the years,” she was quoted as saying by the BCCI. “She has led the team with great commitment and has been an important part of our journey.
“I understand the responsibility that comes with this role and look forward to working with the team, learning along the way and giving my best to take Indian cricket forward.”
Mandhana’s appointment comes on the back of a review meeting held on Monday in Guwahati. Chaired by secretary Devajit Saikia, the meeting was also attended by Mandhana, Harmanpreet and head coach Amol Muzumdar to chart a roadmap forward, with an eye on next year’s inaugural Women’s Champions Trophy in February as well as the T20 World Cup and Los Angeles Olympics in 2028.
Mandhana, India’s best all-format batter, has been knocking on the doors for a while. Earlier this year, she led RCB to their second WPL title, in which she also top-scored in the final.
In September, she overtook Mithali Raj to become the leading run-scorer in women’s international across formats. Her 18 international hundreds are also the most in women’s cricket. She is also the first Indian woman to score centuries in all formats.
[Cricinfo]
Showers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Uva and Southern provinces and in Anuradhapura district
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