World Bank to disburse $700 mn to crisis-hit Sri Lanka: Reports

The World Bank will disburse $700 million to Sri Lanka by re-purposing the country's existing loans amid its ongoing economic crisis, media reports stated on Monday. This comes as the country is also seeking a bailout package from International Monetary Fund (IMF). Sri Lanka is grappling with a shortage of essential items, including food supplies, fuel, medicines and cooking gas.