WB Managing Director on two-day visit to SL

Tuesday, 14 December 2010 00:08 - - {{hitsCtrl.values.hits}}

THE World Bank’s Colombo office announced yesterday that its Managing Director Dr. Ngozi Okonjo-Iweala will arrive on Friday for an official two day visit to Sri Lanka.

During her stay, she will be meeting with President Mahinda Rajapaksa and senior Government officials and visiting the World Bank Group’s supported projects.

The statement released by the WB quoted Dr. Okonjo-Iweala as saying: “The World Bank has been an active partner in supporting Sri Lanka in its transition from a low income country in conflict to a middle income country in peace. The post-war environment provides an opportunity to build on our relationship to support the government’s vision to firmly establish the country’s place in the ranks of fast-growing middle income countries.” Dr. Okonjo-Iweala will be visiting World Bank Group-supported projects in eastern Sri Lanka aimed at increasing opportunities and enhancing economic growth and development.

Her visits will include projects assisting with higher education, employment generation for vulnerable groups, small and micro enterprise development and increasing computer use and literacy.

She will be meeting with President Rajapaksa, policymakers and senior officials, including Central Bank Governor Ajith Nivard Cabraal, along with members of the media. Dr. Okonjo-Iweala will also deliver a speech at the Central Bank of Sri Lanka to mark its 60th anniversary.

Since the World Bank Group’s first development credit line to Sri Lanka for the Aberdeen – Laksapana Power Project in 1954, the institution has become one of Sri Lanka’s largest development partners.

It has worked closely to support the country’s progress in infrastructure, education, health and environmental protection. It is currently supporting the implementation of 17 projects totalling US$1.25 billion in assistance aimed at maximising impact and results.

Dr. Okonjo-Iweala, a national of Nigeria, was formerly the Minister of Foreign Affairs as well as the first female Minister of Finance and Economy for Nigeria.

Economic growth rates tripled during her time as Finance Minister and she has garnered international recognition for improving Nigeria’s financial stability and fostering greater fiscal transparency to combat corruption.