COLOMBO (Reuters) -- Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.
The island nation of 22 million is emerging out of its worst economic crisis in seven decades and its economy is expected to shrink 2% this year before returning to growth next year, following last year's record contraction of 7.8%.
