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Sri Lanka to seek IDA loans while remaining a middle-income country

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 (11) to request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA), the Presidential Media Division said.

Sri Lanka to seek IDA loans while remaining a middle-income country

Daily News
2022-10-12