COLOMBO, Dec. 20 (Xinhua) -- The World Bank said Wednesday that it released 250 million U.S. dollars as the second tranche of the Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation.
In June, the World Bank announced 500 million dollars for the RESET Development Policy Operation, which supports reforms that improve economic governance, enhance growth and competitiveness, and protect the poor and vulnerable.
In the same month, 250 million dollars were disbursed, the World Bank said in a statement.
The World Bank said the second tranche is now being released after assessing that the government continues to make satisfactory progress in carrying out the broader reform program.
Continued momentum on economic and structural reforms is critical not only for stabilizing the economy, but also for unleashing its potential for private sector-led growth and transformation, said Faris H. Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka. ■
