The loan agreement negotiations align with three main components. These include the capitalisation of the Sri Lanka deposit insurance scheme, institutional capacity development of the Central Bank and supervision of the project’s implementation.

On 24 April, the Cabinet approved securing financial assistance from the World Bank.

“The funds obtained through the World Bank loan aims to play a crucial role in achieving these objectives,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday.

The proposal submitted by President Ranil Wickremesinghe in this regard, in his capacity as the Finance, Economic Stabilisation and National Policies Minister was approved by the Cabinet.