• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

World Bank releases additional $250m for Sri Lanka to sustain economic reforms

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
88
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank releases additional $250m for Sri Lanka to sustain economic reforms

The World Bank released the second tranche of the US$500 million Sri Lanka Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO), considering the continued satisfactory progress made by government with the reform program.

The RESET DPO, which provides budget support to the government was approved on June 28, 2023. This is the first in a series that supports foundational reforms to restore macroeconomic stability, mitigate the impacts on the poor and vulnerable, and support an inclusive, private sector-led recovery.

This support is contingent on prior actions or milestones that need to be completed before the funding is released. The second tranche is now being released after assessing that government continues to make satisfactory progress in carrying out the broader reform program, the macroeconomic policy framework remains adequate, and the Banking (Special Provisions) Act—aimed at strengthening the deposit insurance and problem bank resolution framework—has been enacted.

“Continued momentum on economic and structural reforms is critical not only to stabilize the economy, but also to unleash its potential for private sector-led growth and transformation,” said Faris H. Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka.

“The RESET DPO supports the government with these foundational reforms to bring the economy to full recovery, boost Sri Lanka’s competitiveness and growth potential, and encourage private sector investment and participation for inclusive and resilient growth and job creation. We have coordinated and sequenced all our support with the IMF, ADB, and other development partners.”

The first tranche of the RESET DPO for US$250 million was released in June 2023 upon the completion of seven reform prior actions across three pillars: economic governance; growth and competitiveness; and protecting the poor and vulnerable.

RelatedPosts

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

Chamber of Mines Warns Mining Act Reforms Could Weaken Ghana’s Investment Appeal

Gold Price Hits Record High as Investors Seek Safety

Tags: Sri LankaWorld BankWorld Bank releases additional $250m for Sri Lanka to sustain economic reforms
No Result
View All Result

Highlights

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

Banking Sector the Most Robust and Advanced Sector in Fight Against Money Laundering – Report

West Africa: Ghana Flagged as Target for Illicit Financial Flows in Latest National Risk Assessment

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

Trending

Business

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

September 3, 2025

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness The Ghana Chamber of...

Chamber of Mines Warns Mining Act Reforms Could Weaken Ghana’s Investment Appeal

September 2, 2025

Gold Price Hits Record High as Investors Seek Safety

September 2, 2025

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

September 2, 2025

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.