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COLOMBO, Dec 18: The World Bank said on Saturday it has opened another lending window for Sri Lanka thanks to the improved credit worthiness of the war-ravaged island.
The Washington-based bank's Managing Director Ngozi Okonjo-Iweala announced on Friday that the island will be eligible to borrow from International Bank for Reconstruction and Development (IBRD), an arm of the World Bank.
World Bank officials say being considered for IBRD funding is a vote of confidence in the country's ability to repay.
An official with the bank said Sri Lanka will continue to benefit from concessionary or “soft” loans.—AFP
