Finance and State Revenue Minister Ranjith Siyambalapitiya yesterday (21), informed the House that the International Monetary Fund had agreed to grant a US$ 2.5-million loan facility to Sri Lanka and the first tranche would be received on July 24.

Even though Sri Lanka applied for US$ 1.9 billion, the IMF had granted US$ 2.5 billion, he said.

The IMF had promised to provide the loan in eight instalments and interest on the first instalement would be 0.5 per cent, Minister Siyambalapitiya said.

Minister Siyambalaptiya made this announcement participating in a debate on supplementary estimates of several ministers.

The IMF had appreciated the welfare programmes of the government and it had made no pressure or demand to prune them down, Public Administration and Home Affairs Minister Dr. Sarath Amunugama said.