2023ID: SL-EXT-2023-005 (WB-IBRD-9556-LK / WB-IDA-7381-LK)
World Bank Resilience, Stability & Economic Turnaround DPO ($500M)
ලෝක බැංකු ආර්ථික ස්ථාවරත්ව හා ප්රතිසාධන සංවර්ධන ප්රතිපත්ති මෙහෙයුම (DPO - ඩොලර් මිලියන 500)
ACTIVE
Official Agreement: International Development Association / IBRD Sri Lanka Resilience and Economic Turnaround Development Policy Operation
Original Principal$500 MUSD 500,000,000
Current Outstanding$500 MRs. 151,000 M
Principal Repaid$0 MInterest Paid: $18.5M
Interest Rate2.2%FLOATING (Concessional Blend: SOFR benchmark with IDA concessional credit spread (~2.20% blended))
Why Was This Loan Taken? Officially Stated Purpose
Budget support to protect vulnerable households via Aswesuma social safety net, strengthen financial sector safety net, and restore macroeconomic stability.
අස්වැසුම සමාජ ආරක්ෂණ ජාලය ශක්තිමත් කිරීම, මූල්ය ක්ෂේත්ර ස්ථාවරත්වය සහ සාර්ව ආර්ථික ප්රතිසංස්කරණ සඳහා අයවැය මූල්ය සහාය.
Responsible MinistryMinistry of Finance, Economic Stabilization and National Policies
Implementing AgencyDepartment of Fiscal Policy, Ministry of Finance
Project Site / ScopeNational Budget Support
Full Contractual Terms & Financing Conditions
CreditorWorld Bank (IDA / IBRD)Multilateral (World Bank Group)
Borrower EntityDemocratic Socialist Republic of Sri LankaGOVERNMENT_OF_SRI_LANKA
Signing Date2023-06-29Effective: 2023-07-05
Final Maturity2048-06-29Original: 2048-06-29
Interest Rate2.2% (FLOATING)SOFR Overnight Compounded
Grace Period5 YearsPrincipal moratorium
Repayment FrequencySEMI_ANNUALEQUAL PRINCIPAL
Commitment Fee0%On undisbursed balance
CONTRACTUAL TIMELINE
Loan Duration & Repayment Schedule Architecture
Total Tenure: 25 Years
1
Agreement Signing2023-06-29Year: 20232
Grace Period Moratorium5 YearsInterest only (No principal due)3
Principal Repayment Starts2028-06-30Frequency: SEMI_ANNUAL4
Final Maturity2048-06-297973 Days RemainingAmortization Method: EQUAL PRINCIPAL
Repayment Window: 20 YearsGovernment in Office & Political Context When Signed
President / Head of StateRanil Wickremesingheරනිල් වික්රමසිංහ
Prime MinisterDinesh Gunawardenaදිනේෂ් ගුණවර්ධන
Finance MinisterRanil Wickremesingheරනිල් වික්රමසිංහ
Constitutional Record: This loan was executed under the official mandate of the Ranil Wickremesinghe Administration. The sovereign obligor is the Democratic Socialist Republic of Sri Lanka.
Auditor General Official Record
No adverse special audit query on record for this loan facility in National Audit Office archives.
Cabinet & Parliament Approvals
Cabinet Paper: CP/23/1085/15 (2023-06-19)
Approved entering into $500 Million DPO financing agreement with World Bank.
Parliamentary Hansard / Act: Welfare Benefits Act No. 24 of 2002 Implementation Regulations & Budget Resolution
Approved under Appropriation Act limits
Payment-level contract amortization schedule not publicly disclosed by creditor.
Aggregate annual repayments and outstanding balances are reported under CBSL Public Debt Bulletin.
Verified Document Library & Primary Sources
Central Bank of Sri Lanka Annual Report 2025 (Public Debt Operations)Central Bank of Sri Lanka (CBSL) | Published: 2026-04-30
Verify SourceMinistry of Finance & Planning - Public Debt Management Bulletin (Q4 2025)Department of Public Debt, Ministry of Finance | Published: 2026-02-15
Verify SourceIMF Country Report No. 25/84 - Sri Lanka Third Review Under Extended Fund Facility (EFF)International Monetary Fund | Published: 2025-12-18
Verify Source