📈 World Bank Approves US$ 100 Mn Facility for North-East Development

• Funding Overview: The Cabinet has approved entering into financial agreements for a US$ 100 Mn credit facility from the International Development Association (IDA) of the World Bank Group. • Broader Assistance: The funding forms part of an expected US$ 1 Bn IDA financial assistance package for Sri Lanka covering the 2026–2031 period. • Project Scope: Dedicated to the Northern and Eastern Provinces Integrated Regional Development Project, following concluded negotiations initiated after initial cabinet approval on 9 February 2026. • Key Sectors & Support: Designed to strengthen high-potential sectors and empower MSMEs (micro, small, and medium-scale enterprises) across both provinces. • Economic Focus: Aimed at accelerating regional economic growth, boosting provincial competitiveness, and enhancing regional connectivity and livelihoods. • Key Driver: The proposal was submitted by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning, and Economic Development.