The government stated that Sri Lanka will remain a middle-income country.
Sri Lanka no longer qualifies for International Bank for Reconstruction and Development (IBRD) loans due to a downgrade of the country’s credit rating.
Therefore, the Cabinet approved a proposal yesterday (10) to request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA).
This is with the aim of obtaining concessionary funding from the International Development Association (IDA) — an arm of the World Bank that helps the world’s vulnerable countries. This facility is called “Gap”.
Twelve countries including Indonesia have availed themselves of this facility when they were facing economic downturn similar to Sri Lanka. The Government is pursuing a “reverse graduation” policy for a limited period of time.
The Presidential Media Division is fully responsible for socializing the views, actions, decisions and statements of His Excellency the President through the media. Electronic, print and new media will contribute to this through a credible and engaging approach.
The media department works as a source of information on the subject of the President’s vision and mission by maintaining good coordination with public and private media organizations and journalists.
National policies, plans and measures are explained to the people through the use of high quality media. Identify the fallacies and reveal the truth.