SL & World Bank Launch 5-Year Partnership for Growth & Jobs 📈

The World Bank Group (WBG) and the Government of Sri Lanka have launched a new Country Partnership Framework (CPF) to drive recovery and achieve a 7% medium-term economic growth target. • Financial Commitment: The partnership will mobilize over US$ 1 Bn via the IFC over five years and up to US$ 1 Bn in low-interest financing from the World Bank over the next three years. • Strategic Pillars: • Ease of Doing Business: Simplifying regulations and digitizing services to help double annual export earnings to US$ 36 Bn by 2030. • Infrastructure: Expanding the Port of Colombo and targeting 70% renewable energy by 2030 (adding 1GW of clean power). • Sectoral Growth: Focus on tourism and agriculture to create quality jobs for the 1 million youth entering the market over the next decade. • Resilience: Strengthening early warning systems following the US$ 4.1 Bn damage caused by Cyclone Ditwah in 2025. • Regional Focus: The US$ 100 Mn REVIVE Project was approved as the first initiative, targeting the Northern and Eastern Provinces. It focuses on tourism and fisheries in hubs like Jaffna and Trincomalee, aiming to create 3,000 jobs and support women entrepreneurs.