Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka, and has announced that the country requires deep structural reforms that focus must be put on economic stabilization, along with addressing the root structural causes that created this crisis to ensure that Sri Lanka’s future recovery and development is resilient and inclusive. This was made known via an statement released by the World Bank yesterday (28). "To help alleviate severe shortages of essential items such as medicines, cooking gas, fertilizer, meals for school children and cash transfers for poor and vulnerable households, we are repurposing resources under existing loans in our portfolio. To date, about US$160 million of these funds has been disbursed to meet urgent needs. In addition, other ongoing projects continue to support basic services, the delivery of medicine and medical supplies, school meals and tuition waivers," the statement read. The statement further mentioned that the World Bank is working closely with implementing agencies to establish robust controls and fiduciary oversight to ensure these resources reach the poorest and most vulnerable. "We will continue to monitor this closely. We are also coordinating closely with other development partners to maximize the impact of our support for the people of Sri Lanka," the statement concluded.