World Bank and Sri Lanka identify new areas of cooperation

The World Bank and Sri Lanka have identified several new areas of development cooperation, such as renewable energy, garbage disposal, watershed management, plantation for export, easing traffic congestion and pedestrian and road safety, in addition to World Bank funded existing projects, says the President’s Media Division (PMD).

This understanding was reached during the discussion that followed when Hartwig Schafer, Vice President of the World Bank for South Asia called on President Gotabaya Rajapaksa at the Presidential Secretariat yesterday (31). Mr. Schafer 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 welcomed further assistance from the Bank.

Referring to development of the plantation sector President emphasized the need to focus on minor crops such as pepper and cinnamon. The World Bank Vice President responded “these crops offer enormous opportunity in terms of employment and export income generation”.

“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”, Mr. Schafer observed.

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

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

In the meantime, the Prime Minister, in his meeting with Mr. Schafer, has requested for a planned projects to be designed in a way that has a “tangible benefit to the people.”

Stating that infrastructure and rural sector development are key priorities for the new government, PM Rajapaksa has also pointed out the keen interest in assisting small and medium-sized enterprises (SMEs).

Vice President Schafer has agreed that World Bank projects in Sri Lanka should focus on the priorities set out by the new government.

“It’s great to see how the country is recovering from the tragedy of the Easter attack,” Schafer has said. “We have long-standing relations with Sri Lanka. We look forward to supporting the journey.”

Noting that the new government has “inherited an economy that was under a lot of stress,” the Vice President has offered technical assistance in identified sectors.

Both delegations agreed that it is important to ensure that the agreements entered into are aligned with the priorities and policies of the government.

The delegations have also discussed a number of ongoing projects and newer potential initiatives in the agriculture, plantation and tourism sectors, and the empowerment of women in rural areas.

“I hope we can identify useful priorities that will benefit the people of Sri Lanka,” Schafer has said further.