🇱🇰 Sri Lanka's Investment Pitch & Climate Finance Call in Newsweek Interview 📈

President Anura Kumara Dissanayake outlined Sri Lanka's economic recovery strategy and climate adaptation needs in a Newsweek interview. • Core Challenge: Breaking the cycle of setbacks (debt distress, Cyclone Ditwah) to achieve sustainable and equitable development amidst overlapping crises. The goal is to prove Sri Lanka's resilience and viability. • Geopolitical Stance: Maintains autonomy to work with major partners (India, China, US) without viewing relationships as a "balancing act." • India: Closest neighbour, first responder. • China: Strong economic & political partner, with existing commercial projects (Hambantota, Port City) managed to protect national interest & sovereignty. • United States: Largest export market, sought for market access, climate finance, and technology partnerships. • Investment Agenda: • Aims for a transparent, rules-based investment regime to ensure certainty, consistency, and confidence. • Introducing a single-window approval system and drafting a new Investment Protection Act. • Focus on attracting US investment in digital infrastructure, manufacturing, and renewable energy. • Climate Finance & Resilience: • Urgent need for climate finance following multi-billion dollar losses from Cyclone Ditwah. • Calls for grants for early warning systems, resilient infrastructure, and coastal protection. • Emphasizes the need for debt sustainability frameworks to evolve for climate-vulnerable countries. • Plans to overhaul disaster management systems for better preparedness and response. • Economic Stability: Balancing increased government revenue and tax base broadening with protecting social spending, while adhering to IMF parameters.