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World Bank approves USD 700mn in budgetary and welfare support for Sri Lanka

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The World Bank yesterday (28) approved USD 700 million in budgetary and welfare support for Sri Lanka.This is the biggest funding infusion into the country since the International Monetary Fund (IMF) bailout package approved in March.

Through this funding, the World Bank said it aims to help Sri Lanka implement foundational reforms that restore macroeconomic stability and sustainability, mitigate the impact of current and future shocks on the poor and vulnerable, and support an inclusive and private sector-led recovery and growth path.

Thereby, USD 500 million of the funds will be allocated for the ‘Sri Lanka Resilience, Stability & Economic Turnaround (RESET) Development Policy Operation’ which will support reforms that improve economic governance, enhance growth and competitiveness, and protect the poor and vulnerable.This operation will provide budgetary support in two equal tranches against agreed prior actions.

Meanwhile, welfare support of USD 200 million will be earmarked for the ‘Social Protection Project’ which seeks to support Sri Lanka in providing better-targeted income and livelihood opportunities to the poor and vulnerable and improving the responsiveness of the social protection program.

The funding was green-lighted when the World Bank Group’s Board of Executive Directors met for a discussion on the new Country Partnership Framework (CPF) for Sri Lanka on Thursday.

The CPF comes at a time when Sri Lanka is navigating its worst economic crisis since its independence from Britain in 1948 after its foreign exchange dipped to record lows, resulting in its first foreign debt default in 2022.

Covering the years 2024-2027, the CPF lays out a two-phased approach that starts with a focus on urgent macro-fiscal and structural reforms and support to protect the human capital and most vulnerable population.

In March 2023, the IMF approved nearly USD 3 billion which Sri Lanka expects will bring additional funding of up to USD 4 billion from the World Bank, Asian Development Bank and other multilateral bodies.

Speaking on the USD 700 million in financing green-lighted for the country, the World Bank Country Director for Sri Lanka  Faris H. Hadad-Zervos said, the CPF offers a ‘historic opportunity’ for deep reforms to reset the country’s economic storyline.

“Through a phased approach, the World Bank Group strategy focuses on early economic stabilization, structural reforms, and protection of the poor and vulnerable,” Zervos said. If sustained, these reforms can put the country back on the path towards a green, resilient and inclusive development, he added.



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Level III landslide early warnings issued to the Districts of Kandy, Kegalle, Kurunegala and Matale extended

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The landslide early warning center of the National Building Research Organisation [NBRO] has extended the  Level III RED landslide early warnings issued to the Districts of Kandy, Kegalle, Kurunegala and Matale until 1600hrs on 11th December 2025.

Accordingly,
The LEVEL III RED landslide warnings issued to the the Divisional Secretaries Divisions and surrounding areas of Kundasale, Pasbage Korale, Medadumbara, Ganga Ihala Korale, Hatharaliyadda, Pathadumbara, Doluwa, Panvila, Gangawata Korale, Ududumbara, Akurana, Yatinuwara, Harispattuwa, Deltota, Thumpane, Poojapitiya, Udapalatha, Udunuwara, Minipe and Pathahewaheta in the Kandy district, Aranayaka, Yatiyanthota, Rambukkana, Bulathkohupitiya and Mawanella in the Kegalle district, Mallawapitiya, Mawathagama and Rideegama in the Kurunegala district, and Rattota, Laggala Pallegama, Ukuwela, Matale, Wilgamuwa, Pallepola, Naula, Yatawatta and Ambanganga Korale in the Matale district have been extended.

LEVEL II AMBER landslide early warnings have been  issued to the Divisional Secretaries Divisions and surrounding areas of Uva Paranagama, Hali_Ela, Meegahakivula, Badulla, Kandeketiya, Bandarawela, Soranathota, Ella, Haputhale, Lunugala, Welimada, Haldummulla and Passara in the Badulla district, Warakapola, Galigamuwa, Kegalle, Dehiowita, Ruwanwella and Deraniyagala in the Kegalle district, Polgahawela and Alawwa in the Kurunegala district, Kothmale East, Walapane, Thalawakele, Nuwara Eliya, Kothmale West, Nildandahinna, Mathurata, Ambagamuwa Korale, Hanguranketha and Norwood in the Nuwara Eliya district. and Kolonna, Godakawela and Kahawaththa in the Ratnapura district.

LEVEL I YELLOW landslide early warnings have been  issued to the Divisional Secretaries Divisions and surrounding areas of Divulapitiya, Attanagalla and Mirigama in the Gampaha district, Narammala in the Kurunegala district, and Kiriella, Eheliyagoda, Balangoda, Kaltota, Openayake, Nivithigala, Imbulpe, Ayagama, Kuruwita, Kalawana, Elapatha, Pelmadulla and Ratnapura in the Ratnapura district.

 

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“We cannot allow flooding to become a part of the daily lives of the people in the Colombo District” – PM

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Prime Minister Dr. Harini Amarasuriya stated that unauthorized constructions within the Colombo District, nor any form of residential developments that endanger the public carried out under the guise of development agenda will not be allowed.

The Prime Minister made these remarks while addressing the media at the conclusion of the Colombo District Disaster Management Committee meeting held on Tuesday [December 09] at the Colombo District Secretariat.

Addressing further, the Prime Minister stated:

“The Colombo District has become vulnerable to this extent due to the constructions carried out without any proper planning or understanding of regulations, along with personal and politically motivated decisions that have placed both the district and its people at risk.

Compared to the districts that suffered severe loss of life and property due to the recent cyclone, the damage to the Colombo District has been relatively lower. However, special intervention is being carried out together with the relevant institutions to manage the potential future flood risks in the district.

This matter was also given special attention during today’s District Disaster Management Committee meeting. We cannot allow the flooding to become a regular part of the lives of the people in Colombo. All relevant institutions will come together to put forward a common plan for flood control in the district.”

The Prime Minister further stated that discussions are already underway to provide sustainable solutions for the people living in high-risk areas within the Colombo District.

The discussion was attended by the Deputy Minister of Urban Development Eranga Gunasekara, Deputy Minister of Mass Media Kaushalya Ariyaratne, and Colombo District Members of Parliament Aruna Panagoda and Chandana Suriyarachchi.

[Prime Minister’s Media Division]

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Russia gifts 35 tonnes of Humanitarian Aid to Sri Lanka

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The handover of 35 tonnes of Russian Humanitarian Aid to Sri Lanka, recently affected by the cyclone «Ditwah», took place at  Katunayake today (10th December)

The shipment was welcomed at the Katunayake airport by Ambassador of Russia Levan Dzhagaryan, Minister of Ports and Civil Aviation  Anura Karunathilaka and Deputy Minister of Defence, Major General Aruna Jayasekara (Retd).

Ambassador Levan Dzhagaryan: said “This delivery is a reflection of long-term friendly relations between Russia and Sri Lanka and reaffirms Moscow’s commitment to support countries in a difficult humanitarian situation.”

The supplies brought by the EMERCOM (Russian Ministry of Emergency Situations) aircraft comprised a movable 60 kW electric power station,  Pumping equipment for water drainage, Summer tents (10-person capacity) and  Food supplies (sugar, vegetable oil, rice)

The total cargo weight is 35 metric tonnes. The aid will be distributed among the most affected regions.

 

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