August 1, 2016 Reading Time: 2 minutes
Reading Time: 2 min read
World Bank ratifies loan for economic reforms
The World Bank Group has approved a credit line of USD 100 million from the International Development Association, in support of Sri Lanka’s current economic reforms.
The World Bank Country Director for Sri Lanka and the Maldives, Françoise Clottes, stated that the funds will help ‘improve fiscal sustainability and create the fiscal space for delivery of public services, social spending and capital investment’.
Japan grants loan for development
The Japanese government has allocated a concessionary loan of USD 90 million to Sri Lanka, to implement development projects proposed under Sri Lanka’s 2016 budget.
The Japanese Ambassador, Kenichi Suganuma, stated that the loan was granted to assist sustainable development in Sri Lanka, as well as strengthen bilateral relations between the two countries.
PM to attend economic forum in Jakarta
The Prime Minister, Ranil Wickremesinghe, is scheduled to attend the 12th World Islamic Economic Forum in Jakarta, Indonesia.
While in Indonesia, Prime Minister Wickremesinghe is expected to have bilateral talks with the Indonesian President, Joko Widodo, and meet with the Malaysian Prime Minister, Dato Seri Najith Tun Abdul Razak, and the President of Tajikistan, Emomali Rahmon.
UN approves police contingent for Burundi
Following unrest and political clashes, the UN Security Council has voted in favour of deploying a police contingent to Burundi, for an initial period of one year.
The police officers would monitor the nation’s security, and support the Office of the United Nations High Commissioner for Human Rights to track human rights violations. In response to the Security Council’s decision, over a thousand Burundians have protested against the police deployment.
Tunisian PM ousted
The Prime Minister of Tunisia, Habib Essid, has been forced to step down following a vote of no confidence in parliament.
Mr. Essid has been criticised for failing to tackle economic and security problems in the country. This is the first time a motion of no confidence has been carried out by the Tunisian parliament.
Turkey demands EU visa-free travel
Turkish Foreign Minister, Mevlut Cavusoglu, has threatened to back out of its refugee deal with the EU, if visa-free travel to the EU is not granted to Turkish nationals.
The Foreign Minister also stated that Turkey would wait until October for visa requirements to be lifted before making a final decision on whether to abandon the agreement.