International Finance Corporation to aid in SriLankan Airlines divestment process

International Finance Corporation (IFC), a subsidiary of the World Bank is reportedly going to assist the Sri Lankan Finance Ministry in the divestment process of SriLankan Airlines along with its subsidiaries SriLankan Catering Limited and SriLankan Ground Handling Limited. The Sri Lankan Government has called expressions of interest from advisors to assist with the sale of stakes in seven state owned enterprises (SOEs) that includes SriLankan Airlines. “The government is in the process of implementing deep economic reforms” across its multiple State-Owned Enterprise Restructuring Unit (SRU). Such reforms are intended to enhance competition, productivity and efficiency across the economy,” reads