Colombo [Sri Lanka], May 31 (ANI): The World Bank is set to disburse about USD 700 million to Sri Lanka within the next few months.

This pledge was made when the World Bank's Country Manager in Colombo Chiyo Kanda held discussions with the Sri Lankan Minister of Foreign Affairs G.L. Peiris.

Also Read | Monkeypox Outbreak: First Death in Nigeria in 2022, 21 Cases Confirmed.

The Sri Lankan minister sought assistance from the World Bank until long term assistance materializes through the International Monetary Fund (IMF), other international institutions and donor countries, Xinhua news agency reported.

The minister stated that short term financial assistance from the World Bank would be appreciated until sustainable solutions are found.

Also Read | Monkeypox Won’t Turn into Pandemic, but Many Unknowns, Says WHO.

The World Bank country manager said that her office is also working with other organizations such as the Asian Development Bank, Asian Infrastructure Investment Bank, and the UN office, encouraging them to "re-purpose" their already committed projects to help the people of Sri Lanka at this difficult time.

Sri Lanka is facing a severe foreign currency shortage which has created problems in importing essential items. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)