The Government has finalised a financing agreement with the International Development Association (IDA) of the World Bank Group, securing USD 150 million for the Financial Sector Safety Net Strengthening Project.
Focused on reinforcing the Sri Lanka Deposit Insurance Scheme (SLDIS) managed by the Central Bank, the project aims to enhance financial and institutional capacity in line with international best practices.
The initiative also supports bolstering SLDIS reserves to meet obligations, boost public confidence, and improve operational efficiency. The project will be executed by the Central Bank, aligning with development objectives.
The financing agreement was signed on 31 January by the Treasury Secretary, Mahinda Siriwardana, and the Country Director for Maldives, Nepal, and Sri Lanka, Faris H. Hadad-Zervos.