World Bank Pledges $200 Million for Key Projects

COLOMBO (News 1st); The World Bank reaffirmed its support for Sri Lanka with plans to finance three key projects over the next three months totaling $200 million. 

World Bank Vice President for South Asia, Martin Raiser, concluded a 2-day visit to Sri Lanka today.

Key areas of focus during the visit included the government's commitment to poverty reduction, digital development, and the Clean Sri Lanka initiative. 

The World Bank reaffirmed its support in these areas, with plans to finance three key projects over the next three months totaling $200 million. 

These projects will support rural development and education and will establish a facility to attract private investment in renewable energy.

During his visit, he met with President Anura Kumara Dissanayake, Prime Minister Harini Amarasuriya and other government officials, private investors, and development partners to discuss the country's ongoing efforts towards economic recovery and long-term growth.

Raiser and the Sri Lankan authorities also discussed priorities for World Bank support over the medium-term, including enhancing the tourism sector; supporting the development of lagging regions—especially in the North; promoting the logistics sector as a driver of growth; improving service delivery, and ensuring the workforce is equipped with the skills required by a rapidly evolving labor market.