World Bank Pledges $150 Million to Bolster Sri Lankan Private Sector

This funding represents the first of three planned operations designed to shift the country's economic trajectory. By targeting a more competitive business climate, the initiative seeks to lower energy costs through power sector reforms and expand employment opportunities, particularly for women. These policy changes are intended to foster a transparent environment capable of supporting sustainable, high-value economic activity.

World Bank Country Manager Gevorg Sargsyan noted that while the nation has achieved significant progress in stabilizing its economy, this next phase remains critical for long-term resilience. The program builds upon a seven-decade partnership, complementing the International Finance Corporation’s $1.8 billion commitment to the private sector between 2021 and 2026. With 13 active projects already underway, this new injection of capital aims to solidify the foundation for inclusive growth and private investment.