Sri Lanka to obtain World Bank, EU assistance to increase efficiency of public sector
The government of Sri Lanka plans to obtain financial assistance from world lenders to strengthen the state institutions dealing with state fiscal management.
The World Bank and the European Union have agreed to provide a loan of US$ 60 million and a grant of US$ 10 million respectively for capacity building and enhancing efficiency of state fiscal management institutions.
The government plans to implement the Public Sector Efficiency Improvement Project (PSEP) using these funds to enhance the efficiency of government investments and debt management, improve the operational efficiency of the implementation of the budget proposals and the procurement process, and enhance management, efficiency, and transparency in delivering public services.
The project focuses on developing the su...