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Sri Lanka: Economic Situation

Question for Foreign, Commonwealth and Development Office

UIN 42267, tabled on 21 July 2022

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether her Department is offering aid to families in Sri Lanka affected by the economic situation in that country.

Answered on

6 September 2022

The UK is closely monitoring the political, economic and security situation in Sri Lanka including food security and livelihoods. The UK is providing economic support through multilateral institutions like the International Monetary Fund (IMF), World Bank (WB) and United Nations (UN). The UK has the joint fifth largest shares in the IMF and is a major contributor to the UN and WB. The UK has a significant voice in international debt fora and we are working with other Paris Club members on solutions to Sri Lanka's unsustainable debt levels.

The WB has reprogrammed US $400 million in financial assistance to provide economic and health sector support. We are working to support the UN and its agencies in their coordinated response to the Humanitarian Needs and Priorities (HNP) Plan. This called for US $47.2 million to provide life-saving assistance to 1.7 million people who are most at risk and need immediate support. The UN Central Emergency Response Fund (CERF) has announced US $5 million for an urgent response to the economic crisis in Sri Lanka. The UK is a longstanding partner to the CERF and is the largest overall donor, contributing more than $1.7 billion to the fund since its inception fifteen years ago. We are exploring additional options to respond to Sri Lanka's humanitarian needs.