Debt-service payments from the International Development Association's (IDA) countries are projected to top $62 billion in 2022. The world's poorest countries now spend over a tenth of their export revenues to service their long-term public and publicly guaranteed external debt..
World Bank Approves Sri Lanka’s Eligibility to Access Concessional Financing, Helping to Stabilize Economy and Protect Livelihoods
This type of financing, which is offered at low interest rates, will enable the country to implement its government-led reform program to stabilize the economy and protect the livelihood of millions of people facing poverty and hunger. This approval means Sri Lanka now becomes an IDA country.
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