$ 100 m Rural-Urban Development Project by WB to boost agriculture, climate resilience

Thursday, 6 February 2025 00:28 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved a five-year Integrated Rural-Urban Development and Climate Resilience Project set to launch in June 2025.

The initiative backed by a $ 100 million concessional loan from the World Bank and technical assistance from the International Financial Corporation (IFC), aims to transform the agriculture sector while strengthening its ability to withstand climate change.

The project is designed to increase the productivity of food crops, plantation crops, livestock and fisheries, ensuring competitiveness in both domestic and foreign markets.

The Government has outlined a comprehensive approach to achieving these goals including, climate-smart agriculture and diversification, water resource management, economic equity and market competitiveness, capacity building and training, and infrastructure and supply chain development.

“This project aligns with the broader sustainable development goals of the country, ensuring that both rural and urban communities benefit from economic growth, improved food security and climate adaptation measures,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.

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