A senior World Bank official wrapped up a visit to Sri Lanka promising nearly half a billion dollars in loans for the island's economic recovery after decades of ethnic war, the bank said Sunday.
Managing Director Ngozi Okonjo-Iweala ended her two-day trip by reaffirming the World Bank's "strong and expanding support to Sri Lanka as it transitions towards a middle-income country in lasting peace," the bank said in a statement.
"We think near-term economic prospects are good. Economy is growing about 7.0 percent. We think the (2011) budget is a credible budget," Okonjo-Iweala said, adding that the government must ensure equitable growth to sustain peace.
Sri Lanka's economy is set to grow by a strong nine percent in 2011, up from 3.5 percent in 2009 when government forces were locked in a final battle with Tamil Tiger rebels.