World Bank helps Sri Lanka “Give credit” 5.5 billion to alleviate the fuel shortage crisis
World Bank helps Sri Lanka – May 19, Archyde.com and Straits Times Sri Lanka’s major economic crisis progress report that Prime Minister Ranil Wikramasinghe announced on Wednesday, May 18, local time that
The World Bank offers a short-term pending loan, a long-term loan or a temporary loan pending a permanent source of US$160 million, or over 5.5 billion baht to pay for essential goods to be imported. “We are considering whether this loan can be used for fuel imports,” Prime Minister Wikramasinghe told parliament.
People wait in a fuel station to buy kerosene oil for cooking in Colombo, Sri Lanka, Thursday, May 19, 2022. Sri Lanka has received US$160 million (S$222 million) in bridge financing from the World Bank in order to pay for essential imports, Prime Minister Ranil Wickremesinghe said. (AP Photo)
The move comes after Vikrama Singh said publicly on Monday May 16 that Sri Lanka had the last day of fuel remaining. and that it urgently needs foreign currency of almost 2,600 million baht to pay for necessary imported goods
Kanchana Viyeske, Minister of Energy of Sri Lanka Asking people to stop wasting their time waiting in line to buy oil during these two days because the country doesn’t have oil for sale. Amid hopes that gasoline and diesel that Sri Lankan authorities borrow from India will arrive soon to help alleviate the oil shortage crisis.
Motorists queue up to buy gasoline near a fuel station in Colombo, Sri Lanka, Thursday, May 19, 2022. Mr Wickremesinghe, who was appointed prime minister last Thursday, had said in an address to the nation on Monday that the country urgently needed US$75 million (S$104 million) in foreign exchange to pay for essential imports. (AP Photo)
People wait in a queue to buy kerosene at a fuel station, amid the country’s economic crisis in Colombo, Sri Lanka, May 18, 2022. The country’s Power Minister had told citizens not to join lengthy fuel queues that have galvanised weeks of anti-government protests. REUTERS/Adnan Abidi
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