World Bank identifies new areas of cooperation in Sri Lanka

Jan 31, 2020 (LBO) – The World Bank and Sri Lanka has identified several new areas of development cooperation in addition to the World Bank-funded existing projects.

They are renewable energy, garbage disposal, watershed management, plantation for export, easing traffic congestion and pedestrian and road safety.

This understanding has been reached during a discussion that followed when Hartwig Schafer, Vice President of the World Bank for South Asia called on President Gotabaya Rajapaksa at the Presidential Secretariat this afternoon (31).

According to President’s Media Division, Schafer has said that concessional funding could be made available for projects to be implemented in these areas.

President Rajapaksa recalling his association with some of the World Bank-funded projects such as road development and city beautification completed during his tenure as the Defence Secretary has welcomed further assistance from the Bank.

Referring to the development of the plantation sector, the President has emphasized the need to focus on minor crops such as pepper and cinnamon.

“These crops offer enormous opportunity in terms of employment and export income generation,” the World Bank Vice President has responded.

“At present, there are 18 ongoing World Bank-funded projects. Some of them are progressing well. Some are not. World Bank will go ahead with the Kandy Multi-Model Terminal Project aimed at easing traffic congestion.”

President Rajapaksa highlighting the importance of using modern technology in such activities has expressed willingness to have further discussions to decide on specific projects.

Idah Z. Pswarayi-Riddihough, the Country Director of the World Bank and Dr. P. B. Jayasundara, Secretary to the President were also present.