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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Sri Lanka can realize resilient growth - World Bank

Sri Lanka can realize resilient growth - World Bank

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samaritan

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Sri Lanka can realize resilient growth - World Bank World_bank_221010

Sri Lanka Can Build Back Better from COVID-19 and Realize Inclusive, Resilient Growth


COLOMBO, November 27, 2020—The World Bank’s new Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, completed his first visit to Sri Lanka today. The purpose of this visit was to meet key policymakers and understand the country’s development priorities. Based in Kathmandu, Nepal, this was the Country Director’s first visit to Sri Lanka in his new role. Hadad-Zervos was joined by Chiyo Kanda, the new Country Manager for Maldives and Sri Lanka, based in Colombo.


“We appreciate the frank and productive conversations we had with government officials, members of the private sector and civil society and all those whom we met during our visits in Colombo and the Provinces. These gave us a growing understanding of the Sri Lankan sustainable development storyline and aspirations,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka. “The World Bank is a long-term partner for the people of Sri Lanka and is committed to help the country reach its full potential for the benefit of all its people.”

The new World Bank management team paid courtesy calls to His Excellency the President Gotabaya Rajapaksa, Hon. Prime Minister Mahinda Rajapaksa, Cabinet and State Ministers, Governor of the Central Bank of Sri Lanka, and Secretaries and senior officials associated with the current World Bank program in Sri Lanka.

They also met with members of civil society from across the spectrum, private sector representatives, development partners as well as thought leaders to better understand Sri Lanka’s vast potential for sustainable growth.

The visits included the port and other facilities in the Hambantota district to observe infrastructure development in the south. At the government hospital-Halthota in Kalutara district, they learned about the government effort to improve primary health care, integrating screening and management of non-communicable diseases, and strengthen promotive and outreach services.    

 “The World Bank is mindful of the challenges the country is facing in this COVID19 era but will also keep our eye on the opportunities for sustainable recovery. We will leverage our knowledge, technical and financial resources to support Sri Lanka to build back better in the post-COVID era for inclusive and resilient growth,” said Chiyo Kanda, World Bank Country Manager for Maldives and Sri Lanka “We are in the process of updating our Systematic Country Diagnostic to deepen our understanding and inform our next Country Partnership Framework that will define the World Bank Group’s engagements with Sri Lanka for the next 4-5 years.”  

The Systematic Country Diagnostic is a thorough analysis, informed by consultations with a broad range of stakeholders, of the key challenges and opportunities in reducing poverty and boosting shared prosperity in a sustainable manner.

In response to the COVID pandemic, the World Bank leveraged the existing portfolio and repurposed a significant portion to support the Government’s effort to reduce the impact of the pandemic. Providing urgently needed personal protective equipment (PPE), supporting vulnerable groups with temporary cash support, improving COVID-19 protection measures on public transport, facilitating tele-education for school children, and providing digital solutions to improve delivery of public services are among the emergency response activities already completed or ongoing. Discussions are under way to further adjust the program to adapt to government’s priorities and emerging development needs.

The current World Bank portfolio in Sri Lanka consists of 19 ongoing projects, with a total commitment value of US$3.65 billion in a variety of sectors including transport, urban, agriculture, water, education and health.

https://www.worldbank.org/en/news/press-release/2020/11/27/sri-lanka-can-build-back-better-from-covid-19-and-realize-inclusive-resilient-growth

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