IMF Sri Lanka Bailout to Help Revive $1.6 Billion Japan Projects.

(Bloomberg) -- The International Monetary Fund's anticipated endorsement of Sri Lanka's reforms and debt restructuring is expected to unlock funding of about 220 billion yen ($1.6 billion) for projects suspended by Japan, people familiar with the matter said. A spokesperson for JICA in Tokyo confirmed the importance of IMF decisions, while declining to elaborate on their effects on Japanese projects in Sri Lanka. Resumption of JICA funding will help bolster development financing for the crisis-ridden nation that is looking to turn a corner from its worst economic crisis. [Extracted from the article]