The World Bank and the Government of Sri Lanka have signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for $200 million, aimed at supporting key reforms to bolster economic governance, growth, and protect vulnerable communities.
- This marks the second operation in a two-part series that began in 2022, following a $500 million disbursement in 2023.
- The initiative includes reforms such as enacting a new Public Debt Management Act, tax administration enhancements, and strengthening financial sector regulations.
- It also focuses on improving public services through amendments to the Telecommunications and Electricity Acts, and boosting export competitiveness by reducing para-tariffs and customs duties.
Additionally, the program prioritizes social protection and women’s empowerment, aiming to create a more equitable and resilient economy.
World Bank Signs $200 Million Development Policy Operation with Sri Lanka to Enhance Economic Stability
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Last modified: October 7, 2024
