World Bank pledges support for Sri Lanka’s key development projects

The World Bank has reaffirmed its commitment to supporting Sri Lanka’s key government initiatives through financial and technical assistance.

This assurance was given by Martin Raiser, Vice President for South Asia at the World Bank, during a meeting with Sri Lankan President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo today (January 21).

During the discussion, a consensus was reached to extend financial and technical support for programs aimed at generating youth employment, the “Clean Sri Lanka” project, poverty alleviation in rural areas, and digital transformation initiatives.

New projects in education, energy, digitalization, and Northern development were also discussed for potential support.

Mr. Martin Raiser assured that the World Bank would ensure the timely disbursement of approved financial assistance for Sri Lanka.

President Anura Kumara Dissanayake emphasized that rural poverty could be alleviated through the development of the education sector. He urged the World Bank representatives to support the government’s ongoing educational reforms and requested assistance for improving the public transportation sector.

Despite 28% of Sri Lanka’s labor force being engaged in agriculture, the sector contributes only about 6% to the Gross Domestic Product (GDP). The President highlighted that this contribution is insufficient and requires improvement.

The President outlined the government’s plans to provide essential facilities for the population, given the country’s high population density.

The meeting also addressed the government’s strategies for youth employment generation and the implementation of new programs to attract tourists in 2025.

President Anura Kumara Dissanayake further revealed plans for the rapid development of ports and airports, emphasizing the government’s focus on accelerating port development initiatives.

Special attention is being directed toward Northern development, with plans to establish three investment zones in the Northern Province.

The President also highlighted ongoing efforts to enhance tourism in the North, improve water facilities, and address the social issues facing the Northern population while preserving their cultural identity.

The meeting was attended by Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando; Secretary to the President, Dr. Nandika Sanath Kumanayake; World Bank Regional Country Director for Nepal, Maldives, and Sri Lanka, David Sislen; World Bank and International Finance Corporation (IFC) Country Manager for Sri Lanka and Maldives, Gevorg Sargsyan; and the Vice President’s Special Assistant, Kishan Abeygunawardena.