Sri Lanka Launches AgriConnect Joint Implementation Plan to Transform Agriculture, Create Jobs

The Government of Sri Lanka, in partnership with the World Bank Group and the International Fund for Agricultural Development (IFAD), today announced the launch of the Sri Lanka AgriConnect Joint Implementation Plan, a coordinated effort to transform the country’s agrifood sector, create jobs, and strengthen food security.

“Sri Lanka is committed to transforming our agrifood sector from one that primarily produces commodities to one that creates greater value, better jobs and stronger opportunities for rural communities. Our farmers, fishers and rural communities are not simply beneficiaries of development, they are partners in building a stronger, more productive and more resilient economy. The AgriConnect Joint Implementation Plan will directly catalyze Government action under our Public Investment Programme, helping us connect farmers to finance, technology and markets while creating better jobs, attracting private investment and expanding opportunities across rural Sri Lanka,” said Dr. Harini Amarasuriya, Prime Minister of Sri Lanka.

Aligned with the Government’s national development agenda and Public Investment Programme 2026–2030, as well as the World Bank Group’s Country Partnership Framework, the plan brings together the Government of Sri Lanka, the World Bank Group, IFAD, development partners, financial institutions, agribusinesses, and farmers around a shared vision for a more productive, climate-resilient and market-oriented food sector.

The initiative will help 900,000 farmers gain better access to agricultural value chains by 2030. This will be backed by $550 million in World Bank Group investments and $115 million from IFAD, and help mobilize up to $170 million in private capital over the next five years.

Agriculture and food processing account for at least 15% of Sri Lanka’s GDP, 30% of goods exports and one in three jobs.

“Sri Lanka has globally competitive agricultural products and strong entrepreneurial potential. The priority now is to connect farmers and agribusinesses with the finance, technology and markets they need to scale. By aligning public and private investment – from innovative financing to risk-sharing solutions – AgriConnect can unlock capital, strengthen agribusinesses and create more and better jobs,” said Sarvesh Suri, IFC Regional Vice President for Asia and the Pacific.

As the first country in South Asia to officially join AgriConnect, Sri Lanka will help build partnerships between farmers and agribusinesses, and advance agriculture finance, digital agriculture and AgTech, alongside cold chains, connectivity, climate-resilient irrigation, skills and research.

The initiative will focus on value chains with strong potential for value addition and exports, including coconut, cinnamon, tea, fisheries, as well as dairy, poultry, aquaculture and horticulture. It will also support greater economic opportunities in lagging regions, including the Northern and Eastern Provinces.

AgriConnect will also strengthen coordination among government, development partners and the private sector to tackle policy barriers, address financing constraints and unlock opportunities at scale.

“There is a real opportunity to build on the progress already made in Sri Lanka’s rural economy and ensure that investments continue to reach smallholder farmers. Through AgriConnect, we can maintain this momentum and bring together the scale, financing and expertise of all partners to invest in the first mile of food systems. This means translating our shared vision into tangible realities for rural transformation: driving capital into rural areas, generating jobs, and building resilience against future shocks,” said Donal Brown, IFAD Associate Vice-President, Department for Country Operations.

AgriConnect implementation has already started through the Integrated Rurban Development and Climate Resilience Project (IRDCRP) financed by the International Development Association (IDA), which connects commercially-viable businesses led by smallholder farmers to better financing and more lucrative markets through productive partnerships. IFC, a member of the World Bank Group focused on the private sector, is complementing these efforts by supporting the competitiveness and export potential of Sri Lanka’s cinnamon and coconut industries and expanding access to finance for agribusinesses through direct investments and financial-sector risk-sharing facilities.