World bank commits $200M for key development projects

The World Bank has pledged $200 million to support three key projects in Sri Lanka over the next three months, reaffirming its commitment to the country’s development.

World Bank Vice President for South Asia, Martin Raiser, concluded a two-day visit to Sri Lanka, focusing on poverty reduction, digital development, and the Clean Sri Lanka initiative.

The pledged projects will focus on rural development, education, and creating a facility to attract private investment in renewable energy.

During his visit, Raiser met with President Anura Kumara Dissanayake, Prime Minister Harini Amarasuriya, and other stakeholders, including private investors and development partners, to discuss Sri Lanka’s economic recovery and long-term growth strategies.

Discussions also covered medium-term priorities, including boosting the tourism sector, developing lagging regions such as the North, promoting logistics as a growth driver, improving service delivery, and equipping the workforce with skills needed for the modern labor market.

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