News
World Bank rules out bridging finance to Sri Lanka until it gets its policy framework in order

The World Bank has ruled out bridging finance or new loan commitments to crisis-hit Sri Lanka until the nation’s economy sets up an adequate macroeconomic policy framework.
The World Bank issued a report on Tuesday following claims 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 WB has said that it is reshuffling the already allocated resources to provide essential medicines and other cash assistance to the vulnerable.
“Recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments among other incorrect assertions,” the WB has said in a statement.
“We are concerned for the people of Sri Lanka and are working in coordination with the IMF and other development partners in advising on appropriate policies to restore economic stability and broad-based growth. Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka,” it said.
It expressed hope that Sri Lanka is making continuous efforts towards economic stability.
“We are currently repurposing resources from previously approved projects to help the government with some essential medicines, temporary cash transfers for poor and vulnerable households, school meals for children of vulnerable families, and support for farmers and small businesses,” the statement said.
Sri Lanka is near bankruptcy and has severe shortages of essentials from food, fuel, medicines and cooking gas to toilet paper and matchsticks. For months, people have been forced to stay in long lines to buy the limited stocks.
Sri Lanka has suspended repayment of about $7 billion in foreign loans due this year out of $25 billion to be repaid by 2026. The country’s total foreign debt is $51 billion.
Sri Lanka, in the midst of its worst economic crisis, has started a negotiating programME with the IMF.
The country however is in need of $4-5 billion bridging finance to arrest the crisis where shortages of essentials had led to street rioting.
Sri Lanka’s economic crisis has created political unrest with a protest occupying the entrance to the president’s office, demanding his resignation continuing for the past 40 days. The crisis has already forced Prime Minister Mahinda Rajapaksa, the elder brother of the President, to resign on May 9.
An inflation rate spiralling towards 40 percent, shortages of food, fuel and medicines and rolling power blackouts have led to nationwide protests and a plunging currency, with the government short of the foreign currency reserves it needed to pay for imports.
Latest News
Committees with accountable district-level officials to be appointed to resolve Human-Elephant Conflict

President Anura Kumara Disanayake instructed relevant officials to swiftly implement a formal mechanism to resolve the human-elephant conflict, which significantly impacts both the rural economy and people’s lives.
The President issued these directives during a discussion on resolving the human-elephant conflict, held this (20) afternoon at the Presidential Secretariat.
During the discussion, particular attention was paid to the districts most affected by the human-elephant conflict, including Anuradhapura, Puttalam, Polonnaruwa, Ampara, Hambantota, Monaragala, Kurunegala, Badulla and Trincomalee. The respective District Secretaries presented the specific issues in their districts to the President.
Discussions also covered existing vacancies within the Department of Wildlife, vehicle requirements and the challenges faced in carrying out their duties.
The President emphasised the need to streamline the mechanism for resolving the human-elephant conflict and highlighted the importance of implementing this programme in close collaboration with the public.
Accordingly, the President instructed that committees comprising accountable officials from the relevant districts be appointed within the next month to carry out these activities.
The President also directed that retired officers be recruited on a contract basis to fill current vacancies in the Department of Wildlife. As an immediate measure, he instructed officials to assign Civil Security Department officers to the Department of Wildlife with specific training and to enact relevant legislation for this purpose.
Furthermore, the President instructed that the ongoing joint operations by the Police, other security forces and the Department of Wildlife to resolve the human-elephant conflict be made more systematic and efficient.
The event was attended by Professor Chandana Abeyrathne, Minister of Public Administration, Provincial Councils and Local Government; Ananda Wijepala, Minister of Public Security and Parliamentary Affairs; T.B. Sarath, Deputy Minister of Housing; Aruna Jayasekara, Deputy Minister of Defence; Dr. Nandika Sanath Kumanayake, Secretary to the President; Ranjan Marasinghe, Director General of Wildlife; Major General Lasantha Rodrigo, Army Commander; Priyantha Weerasuriya, Acting Inspector General of Police; as well as District Secretaries and other government officials.
News
Students from Thambuttegama Central College visit President’s House

A group of students from Thambuttegama Central College, Anuradhapura, visited the Presidential Secretariat and President’s House this (20) afternoon during their annual educational tour.
The students had the opportunity to participate in the ‘Vision’ programme, an initiative for schoolchildren jointly organised by the Presidential Secretariat, the Ministry of Education, and the Department of Communication of the Parliament of Sri Lanka.
After touring the Old Parliament building within the Presidential Secretariat, the students were also briefed on parliamentary history.
The college’s teaching staff and students were also informed about the ‘Clean Sri Lanka’ programme, which operates under a concept by President Anura Kumara Disanayake, as well as the role of the executive and the rule of law.
During the visit, the Legal Advisor to the President J.M. Wijebandara symbolically demonstrated the value of environmental protection by presenting a valuable sapling to the school.
The event was attended by Senior Additional Secretary to the President K.N.M. Kumarasinghe, Deputy Director of the Tri-Forces Security Affairs Coordinating Unit Colonel Dhananjaya Senarath, Deputy Principal of Thambuttegama Central College M.G. Asanka Wijesuriya, along with teaching staff and other officials.
Business
Foreign Direct Investment records 90% Increase in First Quarter of 2025

The Board of Investment (BOI) of Sri Lanka has successfully increased Foreign Direct Investment (FDI) by US$96 million in the first quarter of 2025, compared with the same period in 2024.
This was disclosed today (20) during a progress review meeting of the Board of Investment of Sri Lanka, chaired by President Anura Kumara Disanayake at the Presidential Secretariat.
BOI officials also noted that, relative to the first quarter of 2024, domestic investment rose by US$21 million, while export income increased by US$176 million during the first quarter of 2025. In total, Sri Lanka has attracted US$4,669 million in investment proposals thus far in 2025.
The meeting also focused on the issues and challenges associated with attracting investment to the country and discussed potential strategies to address them.
Addressing the gathering, President Anura Kumara Disanayake stated that the Board of Investment holds a pivotal role in enhancing the national economy and improving the living standards of the rural population.
He stressed that opportunities to attract investment in traditional sectors are becoming increasingly limited and therefore the nation must identify new areas for investment, an endeavour that falls under the BOI’s mandate.
The President further noted that Sri Lanka has attracted only around US$22 billion in investment since 1978. In comparison to other countries in the region, he stated, Sri Lanka must advance rapidly, referencing Vietnam’s achievement of securing US$23 billion in investment in 2022 alone.
He went on to state that the BOI should prioritise the expansion of investment in the services sector and proactively seek new investment opportunities, rather than focusing solely on recapturing missed ones.
The event was attended by senior officials of the Board of Investment, including Duminda Hulangamuwa, Senior Advisor to the President on Economic Affairs; Arjuna Herath, Chairman of the Board of Investment; and Ms Renuka Weerakone, Acting Director General of the Board of Investment.
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