World Bank Vice President reaffirms support for Sri Lanka’s recovery and growth

Sri Lanka
By Editor_1
During his two-day visit, World Bank’s Vice President for South Asia, Johannes Zutt, held meetings with President Anura Kumara Dissanayake, Central Bank Governor Dr Nandalal Weerasinghe, Secretary to the Treasury Dr Harshana Suriyapperuma, and other senior government officials. The discussions built on the visit of World Bank Group (WBG) President Ajay Banga in May, when the Bank pledged more than US$1 billion in financing for Sri Lanka over the next three years - PMD

COLOMBO – The World Bank’s Vice President for South Asia, Johannes Zutt, concluded his first official visit to Sri Lanka on Tuesday (16), reaffirming the institution’s commitment to supporting the country’s economic reforms and long-term growth agenda.

During his two-day visit, Zutt held meetings with President Anura Kumara Dissanayake, Central Bank Governor Dr Nandalal Weerasinghe, Secretary to the Treasury Dr Harshana Suriyapperuma, and other senior government officials. The discussions were built on the visit of World Bank Group (WBG) President Ajay Banga in May, when the Bank pledged more than US$1 billion in financing for Sri Lanka over the next three years.

Since that announcement, two major programs have already been launched: a US$150 million renewable energy initiative targeting the generation of 1 GW with private sector investment, and a US$100 million agriculture project. Over the coming year, the Bank also plans to support projects in tourism, regional development with a focus on the Northern and Eastern provinces, digital development, and ports and logistics.

Commending Sri Lanka’s recent progress, Zutt praised the government’s efforts to stabilize the economy and underscored the importance of sustaining reforms. “It was a privilege to visit Sri Lanka and meet with President Dissanayake to learn about his government’s vision for growth,” Zutt said. “The groundwork for recovery has been laid. Now is the time to focus on jobs, investment, and inclusive development. The World Bank Group is ready to support Sri Lanka in this journey, prioritizing mobilization of private capital and attracting foreign direct investment to expand services and create jobs.”

With nearly one million young people projected to enter the workforce in the next decade, but only about 300,000 new jobs expected under current trends, Zutt emphasized that accelerating private sector growth will be critical. The World Bank Group, he said, will continue to partner with Sri Lanka to strengthen competitiveness, expand service delivery, and create more employment opportunities across the country.

-ENCL

Editor_1
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