Sri Lanka Central Bank Strengthening

Abstract*

The objective of the Central Bank Strengthening Project is to help restructure and reorganiza the Central Bank of Sri Lanka. The project has three main project components and several sub-components. The first component supports Central Bank reorganization and restructuring by establishing a fully professional human resources department and reforming human resources policies; financing a voluntary retirement scheme as Bank functions are streamlined... Show More

Development Objective

Fundamental restructuring of the Central bank to transform the institution to a modern, strong, and efficient central bank. The process involves: Important and fundamental changes of its human resources and right-sizing the institution through implementation o f the Voluntary Retirement Scheme (VRS); Upgrading the payments and settlement system; Improving the monetary policy, exchange and foreign reserve management and to promote government securities market; and Strengthening the regulatory framework to pave the way for broader range of financial activities in debt and securities market.

Key Details

Project Details

Project ID
P071131
Status
Closed
Team Leader
Sriyani M. Hulugalle
Borrower 2
N/A

Country
Sri Lanka
Disclosure Date
August 31, 2000
Approval Date
(as of board presentation)
June 19, 2001
Effective Date
August 24, 2001

Total Project Cost 1
US$ 42.00 million
Implementing Agency
N/A
Region
South Asia
Fiscal Year 3
2001

Commitment Amount
US$ 31.30 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2005

Last Stage Reached
BANK APPROVED
Last Update Date
January 15, 2013

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Economic Growth and Planning3%
- FY17 - Migration, Remittances and Diaspora Engagement3%
FY17 - Fiscal Policy3%
- FY17 - Subnational Fiscal Policies3%

FY17 - Finance

FY17 - Financial Stability24%
- FY17 - Financial Sector Integrity12%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring12%

FY17 - Human Development and Gender

FY17 - Labor Market Policy and Programs3%
- FY17 - Labor Market Institutions3%

FY17 - Private Sector Development

FY17 - Jobs3%
- FY17 - Youth Employment3%

FY17 - Public Sector Management

FY17 - Public Administration38%
- FY17 - Municipal Institution Building13%
- FY17 - State-owned Enterprise Reform and Privatization25%
FY17 - Rule of Law25%
- FY17 - Legal Institutions for a Market Economy25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
SWEDEN: Swedish Intl. Dev. Cooperation Agency (SIDA)	1.00
Borrower/Recipient	10.70
IDA Credit	30.30

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	30.30
IBRD + IDA Commitment	30.30

Lending Instrument
Grant Amount	1.00
Total Project Cost**	42.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

No data available.

Detailed Financial Activity as of June 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 15, 2023	IDA-35250	Loan Repay	9,549.42
Mar 15, 2023	IDA-35250	Int Charges	87,319.17
Mar 15, 2023	IDA-35250	Int Charges	87,319.17
Mar 15, 2023	IDA-35250	Loan Repay	619,777.00
Jun 19, 2001	IDA-35250	Loan Commitment	30,300,000.00
Mar 15, 2024	IDA-35250	Loan Repay	19,203.36
Mar 15, 2024	IDA-35250	Loan Repay	0.01
Mar 15, 2024	IDA-35250	Loan Repay	610,293.20
Mar 15, 2024	IDA-35250	Int Charges	82,621.55
Mar 15, 2024	IDA-35250	Int Charges	82,621.55
Mar 15, 2024	IDA-35250	Int Charges	-0.01
Mar 15, 2024	IDA-35250	Int Charges	-0.01
Mar 15, 2014	IDA-35250	Int Charges	6,613.24
Mar 15, 2014	IDA-35250	Int Charges	6,613.24
Mar 15, 2014	IDA-35250	Loan Repay	366,571.30
Mar 15, 2014	IDA-35250	Int Charges	125,234.81
Mar 15, 2014	IDA-35250	Int Charges	125,234.81
Sep 15, 2013	IDA-35250	Int Charges	122,778.42
Sep 15, 2013	IDA-35250	Int Charges	122,778.42
Sep 15, 2013	IDA-35250	Loan Repay	10,936.15
Sep 15, 2013	IDA-35250	Loan Repay	348,106.84
Mar 15, 2015	IDA-35250	Loan Repay	14,648.02
Mar 15, 2015	IDA-35250	Loan Repay	309,391.22
Mar 15, 2015	IDA-35250	Int Charges	113,009.02
Mar 15, 2015	IDA-35250	Int Charges	113,009.02
Sep 15, 2014	IDA-35250	Int Charges	124,958.28
Sep 15, 2014	IDA-35250	Int Charges	124,958.28
Sep 15, 2014	IDA-35250	Int Charges	5,180.06
Sep 15, 2014	IDA-35250	Int Charges	5,180.06
Sep 15, 2014	IDA-35250	Loan Repay	354,490.53
Mar 15, 2016	IDA-35250	Int Charges	4,046.10
Sep 15, 2015	IDA-35250	Loan Repay	18,053.74
Sep 15, 2015	IDA-35250	Loan Repay	315,343.34
Sep 15, 2015	IDA-35250	Int Charges	110,927.57
Sep 15, 2015	IDA-35250	Int Charges	110,927.57
Sep 15, 2016	IDA-35250	Int Charges	109,673.85
Sep 15, 2016	IDA-35250	Int Charges	109,673.85
Mar 15, 2016	IDA-35250	Loan Repay	329,435.53
Mar 15, 2016	IDA-35250	Int Charges	109,160.10
Mar 15, 2016	IDA-35250	Int Charges	109,160.10
Mar 15, 2016	IDA-35250	Int Charges	4,046.10
Sep 15, 2016	IDA-35250	Int Charges	3,275.48
Sep 15, 2016	IDA-35250	Int Charges	3,275.48
Sep 15, 2016	IDA-35250	Loan Repay	330,988.47
Sep 15, 2017	IDA-35250	Int Charges	100,578.48
Sep 15, 2017	IDA-35250	Int Charges	100,578.48
Mar 15, 2017	IDA-35250	Int Charges	106,467.33
Mar 15, 2017	IDA-35250	Int Charges	106,467.33
Mar 15, 2017	IDA-35250	Int Charges	1,961.40
Mar 15, 2017	IDA-35250	Int Charges	1,961.40
Mar 15, 2017	IDA-35250	Loan Repay	319,002.25
Mar 15, 2018	IDA-35250	Int Charges	10,698.10
Mar 15, 2018	IDA-35250	Int Charges	10,698.10
Mar 15, 2018	IDA-35250	Loan Repay	343,511.25
Mar 15, 2018	IDA-35250	Int Charges	105,544.92
Mar 15, 2018	IDA-35250	Int Charges	105,544.92
Sep 15, 2017	IDA-35250	Loan Repay	522.57
Sep 15, 2017	IDA-35250	Loan Repay	336,020.56
Sep 15, 2018	IDA-35250	Int Charges	6,298.80
Sep 15, 2018	IDA-35250	Loan Repay	331,553.38
Sep 15, 2018	IDA-35250	Int Charges	106,701.17
Sep 15, 2018	IDA-35250	Int Charges	106,701.17
Sep 15, 2018	IDA-35250	Int Charges	6,298.80
Mar 15, 2019	IDA-35250	Int Charges	223.47
Mar 15, 2019	IDA-35250	Int Charges	223.47
Mar 15, 2019	IDA-35250	Loan Repay	329,109.34
Mar 15, 2019	IDA-35250	Int Charges	104,903.94
Mar 15, 2019	IDA-35250	Int Charges	104,903.94
Mar 15, 2020	IDA-35250	Loan Repay	3,596.23
Mar 15, 2020	IDA-35250	Loan Repay	322,156.70
Mar 15, 2020	IDA-35250	Int Charges	101,390.93
Mar 15, 2020	IDA-35250	Int Charges	101,390.93
Sep 15, 2019	IDA-35250	Loan Repay	923.14
Sep 15, 2019	IDA-35250	Loan Repay	323,650.30
Sep 15, 2019	IDA-35250	Int Charges	102,240.97
Sep 15, 2019	IDA-35250	Int Charges	102,240.97
Mar 15, 2021	IDA-35250	Int Charges	8,183.53
Mar 15, 2021	IDA-35250	Int Charges	8,183.53
Mar 15, 2021	IDA-35250	Loan Repay	337,646.97
Mar 15, 2021	IDA-35250	Int Charges	102,560.61
Mar 15, 2021	IDA-35250	Int Charges	102,560.61
Sep 15, 2020	IDA-35250	Loan Repay	333,825.60
Sep 15, 2020	IDA-35250	Int Charges	94,850.51
Sep 15, 2020	IDA-35250	Int Charges	94,850.51
Sep 15, 2020	IDA-35250	Loan Repay	1,022.79
Mar 15, 2022	IDA-35250	Int Charges	746.71
Mar 15, 2022	IDA-35250	Int Charges	746.71
Mar 15, 2022	IDA-35250	Loan Repay	652,060.30
Mar 15, 2022	IDA-35250	Int Charges	95,363.95
Mar 15, 2022	IDA-35250	Int Charges	95,363.95
Mar 15, 2022	IDA-35250	Int Charges	174,198.12
Sep 15, 2021	IDA-35250	Int Charges	100,346.59
Sep 15, 2021	IDA-35250	Int Charges	100,346.59
Sep 15, 2021	IDA-35250	Loan Repay	670,381.30
Sep 15, 2021	IDA-35250	Loan Repay	3,741.62
Sep 15, 2022	IDA-35250	Loan Repay	593,046.90
Sep 15, 2022	IDA-35250	Int Charges	87,231.77
Sep 15, 2022	IDA-35250	Int Charges	87,231.77
Sep 15, 2022	IDA-35250	Int Charges	159,343.34
Sep 15, 2022	IDA-35250	Loan Repay	19,105.00
Sep 15, 2023	IDA-35250	Loan Repay	9,243.12
Sep 15, 2023	IDA-35250	Loan Repay	614,164.60
Sep 15, 2023	IDA-35250	Int Charges	84,160.18
Sep 15, 2023	IDA-35250	Int Charges	84,160.18

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Highly Satisfactory	2005-12-14
Project Management	Highly Satisfactory	2005-12-14
Counterpart Funding	Highly Satisfactory	2005-12-14
Monitoring and Evaluation	Satisfactory	2005-12-14
Overall Implementation Progress (IP)	Highly Satisfactory	2005-12-14
Financial Management	Highly Satisfactory	2005-12-14
Procurement	Highly Satisfactory	2005-12-14

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 07-19-2006	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Highly Satisfactory	N/a
Risk To Development Outcome	Not Rated	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Highly Satisfactory	N/a
Government Performance	Highly Satisfactory	N/a
Implementing Agency	Highly Satisfactory	N/a
Icr Quality	Unsatisfactory	N/a
M&e Quality	Not Rated	N/a

Results Framework

No data available.

Sri Lanka Central Bank Strengthening

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

Detailed Financial Activity as of June 30, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework