The OPEC Fund for International Development has agreed to provide a loan of USD 50 million as a policy-based loan to Sri Lanka, Cabinet Spokesman Minister Nalinda Jayatissa announced.
Addressing the media today, Minister Jayatissa said that the government had submitted a request to the OPEC Fund to secure funds to finance Sri Lanka’s Comprehensive Reform Agenda.
The minister said the request was made in line with the parameters of the Extended Fund Facility (EFF) implemented with the assistance of the International Monetary Fund (IMF).
Accordingly, the Cabinet has approved the proposal submitted by the President, in his capacity as the Minister of Finance, to enter into a loan agreement with the OPEC Fund for International Development to obtain the said loan. (Islandnews)
