The Foreign Minister of Sri Lanka has announced nearly $700 million World Bank will disburse Sri Lanka within the next few months. On Monday, the World Bank pledged Colombo; Chiyo Kanda spoke to Sri Lankan Foreign Affairs Minister G.L. Peiris, Xinhua.

Long-term assistance will materialize through International Monetary Fund during the meeting of the Minister, other international institutions, and donor countries. Also, short-term financial assistance would be appreciated until the minister found a sustainable solution.

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The World Bank Country Manager said that her office is also working with other organizations such as the Asian Development Bank, Asian Infrastructure Investment Bank, and the UN office, encouraging them to “re-purpose” their already committed projects to help the people of Sri Lanka at this difficult time.

Sri Lanka faces a severe foreign currency shortage which has created problems in importing essential items.