📈 Care Economy: Sri Lanka to Host Regional Learning Hub for Resilient Growth

The ILO and World Bank Group are positioning the care economy as a critical pillar for South Asia’s economic resilience, with Colombo set to host the "South-4-Care" Learning Hub on 21 April 2026. The initiative aims to transform care work into a driver for formal employment and gender equality. • Economic Impact & Labor Force: In South Asia, 56% of women remain outside the formal labor force due to unpaid care responsibilities. Addressing this through the 5R Framework (Recognize, Reduce, Redistribute, Reward, Represent) is seen as vital for boosting national productivity. • Sri Lanka Strategic Focus: Under the new Country Partnership Framework, "Job Creation Through Private Sector Led Growth," the World Bank is scaling up investments in childcare and eldercare systems. This recognizes care as a "binding constraint" to women’s participation in the Sri Lankan economy. • Sector Development: The strategy focuses on transitioning informal care into decent jobs by ensuring fair wages and professional training. This is expected to mitigate "brain drain" and support the ICT/BPM and apparel sectors by enabling a more inclusive workforce. • Public-Private Collaboration: The framework emphasizes that while the State leads regulation, public-private partnerships are essential to expand infrastructure and sustainable funding for care services without overburdening the public sector.