• Sri Lanka approved a $50 million policy-based loan from the OPEC Fund, linked to the IMF’s Extended Fund Facility, while similar loans have been received from the World Bank and ADB, and Japan awaits bilateral debt restructuring to provide financial support.

Sri Lanka’s cabinet has approved signing an agreement for a $50 million policy-based loan from the OPEC Fund for International Development, linked to financing under the Extended Fund Facility of the International Monetary Fund (IMF), according to the Department of Government Information. The country has already received similar loans tied to the IMF program from the World Bank and the Asian Development Bank. Meanwhile, Japan, a traditional co-financier of IMF programs in past currency crises, has been unable to provide new loans due to the pending completion of bilateral debt restructuring.

Sri Lanka to get $50M IMF deal-linked policy loan from OPEC Fund | EconomyNext