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Sri Lanka Resilience, Stability and Economic Turnaround Development Policy Operation

Abstract*

The development objective of the Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for Sri Lanka is to support foundational reforms that restore macroeconomic stability and sustainability, mitigate the impact of current and future shocks on the poor and vulnerable, and support an inclusive and private-sector-led recovery and growth path. This plan aims to restore stability through a macroeconomic adjustment...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To support foundational reforms that restore macroeconomic stability and sustainability, mitigate the impact of current and future shocks on the poor and vulnerable, and support an inclusive and private-sector-led recovery and growth path.

Key Details

Project Details

  • P179808

  • Closed

  • Richard Walker , Peter J. Mousley, Rene Leon Solano

  • DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA

  • Sri Lanka

  • December 20, 2022

  • (as of board presentation)

    June 28, 2023

  • June 29, 2023

  • US$ 0.00 million

  • Central Bank of Sri Lanka,Ministry of Finance, Economic Stabilization and National Policies

  • South Asia

  • 2023

  • US$ 500.00 million

  • N/A

  • February 25, 2024

  • October 31, 2024

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Shorter Maturity Loan (SML) 500.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 500.00
IBRD + IDA Commitment 500.00
Lending Instrument
Grant Amount N/A
Total Project Cost** N/A

Summary Status of World Bank Financing (US$ Millions) as of January 31, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Jun 29, 2023 IDA-73540 Loan Disb 247,568,128.00
Jun 28, 2023 IDA-73540 Loan Commitment 500,000,000.00
Dec 19, 2023 IDA-73540 Loan Disb 248,056,256.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Overall Implementation Progress (IP) Satisfactory 2024-06-28
Progress towards achievement of PDO Satisfactory 2024-06-28
Monitoring and Evaluation Satisfactory 2024-06-28
Program Management Satisfactory 2024-06-28

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

No data available.