September 11, 2023
Banking International

World Bank Loans $400m To Three Sri Lankan Banks

The World Bank has proposed a lifeline to three private banks in bankrupt Sri Lanka on Monday, lending them $400 million to subsidize significations of crucial nutrition and therapies with an IMF bailout slowed.

The World Bank’s confidential sector allocation associate, the International Finance Corporation is loaning the trio the budgets with Sri Lanka’s financial problem still thundering on.

The South Asian country of 22 million has been surviving harsh difficulties since it operated out of foreign trade to fund crucial nutrition, energy, therapies and fertiliser in late 2021. It defaulted on its deficit in April 2022.

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