Sri Lanka Cabinet Approves PPP Bill to Boost Private Capital 📈

Sri Lanka’s Cabinet of Ministers has approved publishing the draft Public-Private Partnership (PPP) bill in the Government Gazette prior to submitting it to Parliament to attract private investment into public projects. • Key Institutional Framework - Establishes the National Agency for PPP to advise, coordinate, monitor, and facilitate infrastructure and public investment projects across all economic sectors. - Grants legal clearance by the Attorney General, following drafting by the Legal Draftsman. • Fiscal Alignment & Procurement - Integrates PPP initiatives with the public investment management framework under the Public Financial Management Act to preserve fiscal discipline. - Mandates a transparent, competitive procurement process set by the National Procurement Commission. • Addressing Historical Constraints - Resolves statutory, legal, and inter-agency friction that previously hindered the execution of national investment projects. - Aims to overcome policy unpredictability, bureaucratic delays, and non-standardized risk-sharing that eroded past investor confidence.