The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to help meet payment requirements for essential imports, the Sri Lankan president's media division said in a statement on Tuesday.

"The World Bank has agreed to provide $600 million in financial assistance to address the current economic crisis," the statement said.

The World Bank would release $400 million "shortly", it said. According to the statement, the World Bank said it would continue to help Sri Lanka to overcome the current economic crisis.