Sri Lanka has approved an anti-corruption legislation that is a key clause in the actions needed for its $2.9 billion bailout from the International Monetary Fund (IMF), a government spokesperson said on Tuesday.

The proposed anti-corruption legislation is part of the IMF staff-level agreement that economic crisis-hit Sri Lanka agreed to last September.

“This anti-corruption legislation has been requested by many parties and will also help us get assistance from the IMF and other multilateral partners,” spokesperson Bandula Gunawardena told reporters after a meeting of the cabinet.

“This bill will ensure that funds received by Sri Lanka will be used in a responsible manner and for essential projects,”