INSUBCONTINENT EXCLUSIVE:
The World Bank Group today announced a major initiative to support job creation and unlock private sector growth in Sri Lanka, backed by
agriculture, tourism, and regional development.The initiative aims to expand economic opportunity, strengthen local industry, and attract
private capital to support long-term growth
private investment to create more and better jobs
The immediate sectors targeted in the $1 billion package includes:Energy ($185 million): Supporting new solar and wind generation equivalent
to 1 gigawatt of capacity, aimed at lowering electricity costs for families and businesses
The project is expected to mobilize over $800 million in private investment and includes $40 million in guarantees.Agriculture ($100
million): Helping farmers and agribusinesses adopt new technologies, access markets, and attract private capital
financing.Tourism ($200 million): Expanding the sector by protecting natural and cultural assets, creating jobs, and ensuring benefits flow
to local communities.Regional Development ($200 million): Investing in infrastructure, local industries, and job creation in historically
partner to Sri Lanka for more than 70 years, with current investments exceeding $2.2 billion
path to a more resilient and inclusive economy.
