World Bank Commits to Timely Disbursement of Funds for Sri Lanka

COLOMBO (News 1st); World Bank would ensure the timely disbursement of the approved financial assistance for Sri Lanka, said Martin Raiser, the Vice President for South Asia at the World Bank during a meeting with President Anura Kumara Dissanayake.

During the conversation, the President and Martin Raiser had reached an agreement on the World Bank providing financial and technical assistance for programs aimed at generating employment for youth, the "Clean Sri Lanka" program, poverty alleviation in rural areas, and digital transformation projects.

They had discussed potential support for new projects in education, energy, digitalization, and Northern development.

Martin Raiser had assured that the World Bank would ensure the timely disbursement of the approved financial assistance for Sri Lanka.

The President had mentioned that developing the education sector is key to alleviating rural poverty, and requested support from the World Bank representatives for the ongoing educational reforms initiated by the new government, as well as assistance for the development of the public transportation sector.

The President had pointed out that while 28% of Sri Lanka’s labor force is employed in agriculture, the sector contributes only 6% to the country's GDP, which is insufficient.

He had also clarified the government's plans to provide essential facilities to the population, taking into account the country’s high population density.

They also discussed the government’s efforts to create employment opportunities for the youth and introduced new programs to attract more tourists to Sri Lanka in 2025.

The President had revealed that new plans are being implemented for the development of airports and ports, and emphasized that port development is being expedited.

He had also highlighted that the government is focusing more on Northern development and is working on establishing three investment zones in the Northern Province.

Furthermore, the President had mentioned that the government is working to enhance tourism in the North, improve water facilities, and address the social issues of the northern population, all while preserving their cultural identity.