President meets World Bank chief, discuss 3-year partnership
May 7, 2025 07:59 pm
President Anura Kumara Dissanayake has met with World Bank President Ajay Banga, who is on an official visit to Sri Lanka.
He added that during the meeting today (07) they discussed a three-year partnership focusing on investment, digitalisation, tourism, agriculture, and regional development.
“Today, I met with World Bank President Ajay Banga, the first such visit to Sri Lanka in nearly 20 years. We discussed a 3-year partnership focusing on investment, digitalisation, tourism, agriculture & regional development,” Dissanayake posted on ‘X’ (formerly Twitter).
The World Bank Group today announced a major initiative to support job creation and unlock private sector growth in Sri Lanka, backed by more than $1 billion in financing over three years.
The package targets sectors with high potential for employment and investment—energy, agriculture, tourism, and regional development.
The initiative aims to expand economic opportunity, strengthen local industry, and attract private capital to support long-term growth.
It was announced after a meeting in Sri Lanka between President Anura Kumara Dissanayake and World Bank Group President Ajay Banga—marking the first visit by a Bank President in two decades and signaling a renewed commitment to the country’s economic recovery and future.
“This support from the World Bank Group is an investment in the people of Sri Lanka,” said President of Sri Lanka Anura Kumara Dissanayake. “It will help create jobs, support small businesses, and open up new opportunities across the country. We are committed to ensuring this partnership delivers real change for our communities.”
World Bank Group President Ajay Banga highlighted the importance of acting now to build on Sri Lanka’s progress.
“This is a moment of opportunity for Sri Lanka,” said World Bank Group President Ajay Banga. “With progress underway to stabilize the economy and restart growth, core elements for job creation are in place. Now is the time to accelerate reforms and create the conditions for private enterprise to thrive—particularly in sectors that can create jobs at scale.”
The World Bank estimates that nearly one million young people will enter Sri Lanka’s workforce over the next decade, yet only about 300,000 jobs are projected to be created over the same period.
The World Bank President’s visit comes at a critical moment, as Sri Lanka continues its path toward economic recovery and seeks to build a more resilient, inclusive, and private sector-led future.
The visit follows an invitation from President Anura Kumara Dissanayake, extended during a congratulatory call between the two leaders shortly after his appointment last November.
While in Sri Lanka, Mr. Banga is also scheduled to meet Prime Minister Dr. Harini Amarasuriya, and senior government and private sector leaders. These discussions are expected to center on how Sri Lanka can overcome current challenges and seize new opportunities as it continues to recover economically and socially.
