📈 World Bank Approves US$150 Mn to Support Sri Lanka’s Reform Agenda

The World Bank’s Board of Executive Directors has approved US$150 million in financing under the Reforms for Growth, Resilience and Openness Development Policy Operation (REGROW DPO). This marks the first in a proposed series of three operations, transitioning focus from economic stabilization to long-term growth. • Core Financing Details: Provides US$150 Mn in vital budget support aimed at boosting private sector-led investment, strengthening competitiveness, and driving sustainable job creation. • Key Structural Reforms: Anchored in reducing trade barriers, upgrading the investment climate, strengthening the financial sector, and enhancing power sector competitiveness to lower energy costs. • Social & Governance Focus: Supports measures to expand women’s employment opportunities and improve the overall performance and governance of state-owned enterprises (SOEs). • Broader Portfolios: The World Bank currently manages 13 active projects in Sri Lanka totaling over US$1.5 Bn across health, education, and agriculture. Additionally, the IFC has committed nearly US$1.8 Bn to the local private sector between 2021 and 2026.