The President of the World Bank Group, Mr. Ajay Banga, announced that Sri Lanka has been selected as one of 20 countries worldwide to host an integrated South Asia office. The office is set to open on July 25, 2025. This initiative is part of Mr. Banga’s plan to establish 20 integrated country offices to enhance coordination among the four key World Bank Group institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
The announcement was made during a virtual meeting held yesterday (27th) between Mr. Banga and Sri Lanka’s President, Anura Kumara Dissanayake, to discuss the country’s future development priorities.
Mr. Banga reaffirmed his commitment to promoting job creation and addressing critical development challenges. These priorities include providing Sri Lanka with financial and technical assistance to implement innovative solutions in areas such as education, healthcare, social protection, and economic growth. The World Bank’s support will also cover economic policy, finance, competitiveness, investments, institutional development, and poverty alleviation. Other areas of focus include agriculture, water management, climate action, environmental sustainability, social inclusion, infrastructure, and digital transformation.
During the meeting, President Dissanayake highlighted the government’s focus on poverty alleviation, particularly in rural areas. He stressed the importance of increasing government revenue through digitalization and strengthening key sectors such as tourism, the maritime industry, state-owned enterprises (SOEs), and energy, with a specific emphasis on encouraging private investment in power generation.
The President also outlined efforts to promote economic development in the Northern and Eastern regions of Sri Lanka, emphasizing improvements in education, healthcare, and human resource development. Additionally, he highlighted the need to enhance vocational education alongside academic education to address the evolving demands of the workforce in these regions.
Deputy Minister of Economic Development, Prof. Anil Jayantha, and Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma, also participated in the discussion.
