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Sri Lanka’s agriculture to be modernized with World Bank funding

May 26, 2016 (LBO) - Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for improving the economy of farmers as well as the country,” a statement on approved cabinet decisions said. The joint proposal was made by Duminda Dissanayake, minister of agriculture, and Daya Gamage, minister of primary industries. The funding will be aimed at " improving the productivity in agriculture, improving trade access and improvement of value addition by small scale farmers and agribusinesses."