President and World Bank Chief chart development path via virtual meeting

Friday, 29 November 2024 02:11 - - {{hitsCtrl.values.hits}}

Discuss Sri Lanka’s development priorities and deepen collaboration on economic and social progress
World Bank Group President Ajay Banga pledges assistance in job creation, education, healthcare, social protection, climate action, agriculture and digital transformation
Says Sri Lanka is chosen to host World Bank’s South Asia Integrated Office on 25 July 2025
President AKD emphasises Govt.’s focus on poverty alleviation, revenue growth via digitalisation and reforms in tourism SOEs, energy and maritime industry


President Aura Kumara Dissanayake	World Bank Group President Ajay Banga

President Anura Kumara Dissanayake and World Bank Group (WBG) President Ajay Banga convened a virtual meeting on Wednesday to discuss Sri Lanka’s development priorities and deepen collaboration on economic and social progress.

The dialogue highlighted shared commitments to poverty alleviation, infrastructure development and economic modernisation.

World Bank Group President affirmed commitment to addressing critical challenges emphasising job creation and technical assistance to implement innovative solutions across key sectors. These include education, healthcare, social protection and economic prosperity. The World Bank’s support also extends to economic policy, finance, competitiveness, investments, institutional development and poverty alleviation. The Bank’s assistance will also focus on advancing agriculture, water management, climate action, environmental sustainability, social inclusion, infrastructure, and digital transformation.

Banga also revealed that Sri Lanka has been selected as one of 20 countries worldwide to host the integrated South Asia office, set to open on 25 July 2025.

This initiative is part of World Bank Group President’s plan to establish 20 integrated country offices to improve coordination among the four key World Bank Group institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

President Dissanayake emphasised the Government’s focus on poverty alleviation, particularly in rural areas. He also stressed the need for increasing Government revenue through digitalisation and by strengthening key sectors such as tourism, the maritime industry, State-Owned Enterprises (SOEs) and the energy sector, with a focus on encouraging investor participation in power generation.

The President further discussed efforts to promote economic development in the north and east of Sri Lanka, particularly in improving education, healthcare, and human resource development.

Dissanayake also asserted the need to improve vocational education parallel with academic education to meet the evolving needs of the workforce in these regions.

Economic Development Deputy Minister Prof. Anil Jayantha and Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma also participated in the discussion.