Sri Lanka highlights reforms to attract investment at World Bank talks

Sri Lanka President Anura Kumara Dissanayake has requested representatives of the World Bank to inform the global community about Sri Lanka’s ongoing anti-corruption program, which he said would help attract new investments to the country.

This request was made when a delegation from the World Bank Group including Mr. Johannes Zutt, Vice President for the South Asia Region met with President Dissanayake yesterday (September 15) afternoon at the Presidential Secretariat in Colombo.

The two sides held an extensive discussion on how the World Bank Group could support Sri Lanka in achieving its future development goals.

The World Bank representatives expressed their appreciation for Sri Lanka’s current economic program and recommended placing greater emphasis on economic growth and job creation. They suggested identifying sectors that could deliver short-term gains including digitalization, tourism, agriculture, and infrastructure and taking steps to promote them. Special attention was also given to the development of the Northern and Eastern Provinces.

It was further revealed that funding approval has been granted for programs submitted by the Government of Sri Lanka to the World Bank.

Discussions also covered the steps already taken by the Sri Lankan government to establish the legal framework and policy measures needed to attract new investments.

President Dissanayake emphasized that the government is working to stabilize the economy and foster growth. He noted that although Sri Lanka had been labeled internationally as a corrupt country, the implementation of transparent policies is now helping the nation gradually stabilize economically, politically, and socially.

Also present at the meeting on behalf of the World Bank were Mr. David Sislen, Country Director for Sri Lanka, Nepal, and the Maldives, and Mr. Gevorg Sargsyan, Country Manager for Sri Lanka and the Maldives. Representing the Government of Sri Lanka were Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha, Senior Additional Secretary to the President Mr. Russel Aponsu, and several others.