Crisis-ridden Sri Lanka receives US$160 mil from World Bank

COLOMBO - Sri Lanka received US$160 million from the World Bank on Tuesday, Prime Minister Ranil Wickremesinghe said in Parliament on Wednesday, reported Xinhua.

The prime minister also said the country would receive a grant from the Asian Development Bank as well.

"The World Bank funds can't be used to purchase fuel. However, we are to make a request from the bank whether some of the money could be used to solve the immediate fuel crisis," Wickremesinghe said.

Power and Energy Minister Kanchana Wijesekera told parliament on the same day that there would be no petrol available in the country for the next two days as there were no available stocks, but assured the matter would be resolved by the weekend.

Sri Lanka has been facing a severe economic crisis since the country defaulted on its external debt servicing on April 12, 2022.

The prime minister said all parliament members must work together to solve the crisis faced by Sri Lanka, adding that by next week he would present to parliament a comprehensive report on the country's financial status.

Wickremesinghe was appointed as the Prime Minister on May 12 following the resignation of Mahinda Rajapaksa. - Bernama