World Bank ready to provide emergency support to Sri Lanka amid crisis: Report

Sri Lanka, which is on the brink of bankruptcy, is grappling with an unprecedented economic turmoil, the worst since its independence from Britain in 1948.

World Bank Vice President Hartwig Schafer held talks with Sri Lankan Finance Minister Ali Sabry in Washington on Tuesday, the Colombo Gazette reported on Wednesday.

Finance Minister Sabry is in the US for the annual spring meetings of the International Monetary Fund IMF and the World Bank .

Schafer said they discussed actions to address the economic crisis, support stabilisation and recovery, and protect the vulnerable people, the report added.

Schafer said that the World Bank is deeply concerned about the impact of the crisis on the poor and vulnerable and stands ready to provide emergency support for essential medicines and health-related supplies, nutrition, and education, the report said.

The Finance Minister also had talks with the International Monetary Fund (IMF) and India’s Finance Minister Nirmala Sitharaman in Washington on Monday.