Tuesday, June 25, 2024
Local NewsSri Lanka Economy

World Bank adopts country partnership for Sri Lanka to help economy, protect the poor

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World Bank|WASHINGTON, June 28, 2023—The World Bank Group’s Board of Executive Directors today discussed the new Country Partnership Framework for Sri Lanka, which aims to help restore economic and financial sector stability and build a strong foundation for a green, resilient, and inclusive recovery.

This CPF comes at a time when the country is navigating a severe economic crisis that is having devastating impacts on people’s lives and livelihoods and which demands deep reforms to stabilize the economy and protect the poor and vulnerable. Sri Lanka’s poverty rate is estimated to have doubled from 13.1 to 25 percent between 2021 and 2022—an addition of 2.5 million poor people—and is projected to increase by another 2.4 percentage points in 2023|read more.

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