Sri Lanka and the World Bank joined hands to improve the primary Health System in Sri Lanka. A loan agreement of a $200 million was signed between the parties. The project will benefit the people by:
- Increasing the quality of Primary Health Care service in Sri Lanka
- Increasing the ability to detect and prevent non-communicable diseases
- Responding to the changing health needs of the most vulnerable population of Sri Lanka
World Bank Vice President’s First Visit to Sri Lanka
Vice President, South-Asia Region, World Bank, Hartwig Schafer at the Press For Progress event in Colombo
The World Bank Vice President for the South Asia Region, Hartwig Schafer visited Sri Lanka in February to understand the country's development priorities and the bank’s direction and support the country in fulfilling their priorities. In addition, he also engaged in #PressforProgress campaign, Launch of Sri Lanka Development Update and visited the World Bank funded project sites.
The Launch of Sri Lanka Development Update
Sri Lanka Development Update, the World Bank’s bi-annual macroeconomic publication was launched analysing key developments in Sri Lanka’s economy over six months before the date of which the update was launched. The focus of this report has been to examine the challenges associated with a change in demographics composition.
In terms of demographic composition, the report highlighted that the shrinking working-age population will have an impact on the growth of the economy and affect pensions. The report further stated that creating an environment that encourage entrepreneurship, education, and female labour force participation will be helpful to turn this transition into a positive demographic transition
Increased Exports in Sri Lanka Can Improve Jobs, Raise Wages
World Bank together with the International Labour organization launched the “Exports to Jobs: Boosting the Gains from Trade in South Asia” report. The report uses a novel way to estimate the relationship between exports and their effect on labour markets. The analysis has been carried out using the data collected through household level or worker level surveys and trade data from India and Sri Lanka. According to the study, by increasing and helping workers to obtain necessary skills can lead to better jobs and higher wages in Sri Lanka including more formal jobs for women.
Climate-Smart Agriculture to improve Resilience and Productivity in Sri Lanka
The World Bank Sri Lanka joined with Government of Sri Lanka to develop the resilience and productivity of agriculture across 6 provinces that belong to the dry zone of the country. Around 470,000 farmers who lives in climate hotspot areas is supported through the project. The support is given to increase their access to irrigation and to better manage the available water resources. Further, the farmers will be assisted to adopt climate-smart technologies that would increase agriculture productivity and improved access to market.
World Bank Supports Infrastructure Services in Sri Lanka
A 25$ million loan agreement was signed between Sri Lanka and the World Bank to create a competitive platform that would encourage Public-Private partnerships that enable the Government of Sri Lanka to connect with private sector to find private-sector financing in developing its important infrastructure and services.
World Bank to Improve Local Services in Sri Lanka
The World Bank and the Government of Sri Lanka came together to improve the quality of life of people live in Northern, North Central, Eastern and Uva Provinces. The project will benefit around one million people living in this area. The project will pave the way for local communities to involve in planning and delivering processes of essential services such as roads, healthcare, and sanitation through closer collaboration with local government authorities. A loan agreement of $70 Million has been signed between the parties.
Sri Lanka Strengthens Its Climate Resilience
As a part of the Multiphase project to strengthen the climate resilience in Sri Lanka, the World bank supports Sri Lanka to reduce and mitigate flood risks in the lower Kelani basin in Colombo and to develop weather forecasting and early warning systems across Sri Lanka. The project will support the entire nation with the new forecasting system. About 3.5 million people living river basins will further benefit with flood risk mitigation efforts.
Ground breaking Ceremony of the St. Sebastian South Pumping Station
The construction work of St. Sebastian South Pumping Station was launched under the Metro Colombo Urban development project. This is considered as one of the milestones of the Metro Colombo Urban Development Project to manage floods in Colombo. Commenced in 2013, this project has been financing for flood management across Colombo. This project also marks a long and productive partnership between the Government and the World Bank. Read World Bank Country Director for Sri Lanka, Dr. Idah Pswarayi-Riddihough’s speech on the launch of the pumping station here.
Ground breaking Ceremony for Construction of the New Mutwal Storm Water Drainage Tunnel
The construction work of the New Mutwal Storm Water Drainage Tunnel was launched under the Metro Colombo Urban Development project. The Tunnel will help to control floods in Colombo North by carrying storm water out of Colombo. The New Mutwal tunnel is an important new outfall in the system and this ground breaking ceremony is yet another milestone of the Project. More here.
Launch of Sri Lanka Human Capital Development: Realizing the Promise and Potential of Human Capital
Sri Lanka Human Capital Development Report was launched by the World Bank Sri Lanka. Using the Human Capital Index, the report analyses the life cycle of a person from birth to adulthood to understand the Human capital of the country. According to the study, under the current health and education conditions, a child born in Sri Lanka today will be a little higher than half as productive as the child could have been if they had the benefit of complete education and received full health. With a score of 58% percent, Sri Lanka ranks as 74 out of the 157 countries considered in the index.
Challenge of Disruptive Change: Together Towards Tomorrow
Dr. Idah Pswarayi-Riddihough, World Bank Country Director for Nepal, Sri Lanka and the Maldives delivered a speech at the 31st Anniversary Convention of Association of Professional Bankers of Sri Lanka. Sharing her thoughts at the event She highlighted how important it is for organizations to adapt to emerging disruptive changes such as Climate Change and Digital Transformation.
She further highlighted the importance of Human Capital Development as we are approaching the fourth industrial revolution that is already changing the way we work and live.
Learn More: World Bank