World Bank Group to boost jobs and private sector growth in SL with $ 1 b support package

Immediate sectors targeted in three-year package include: energy, agriculture, tourism and regional development World Bank Group President Ajay Banga says this is moment of opportunity for Sri Lanka Asserts it is time to accelerate reforms and create conditions for private enterprise to thrive, particularly in sectors that can create jobs at scale World Bank estimates nearly 1 m young people will enter Sri Lanka's workforce over next decade, yet only about 300,000 jobs are projected to be created in same period

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THE World Bank Group yesterday announced a major initiative to support job creation and unlock private sector growth in Sri Lanka, backed by more than $ 1 billion in financing over three years.

The package targets sectors with high potential for employment and investment-energy, agriculture, tourism, and regional development.

The initiative aims to expand economic opportunity, strengthen local industry, and attract private capital to support long-term growth.

It was announced after a meeting in Sri Lanka between President Anura Kumara Disanayake and World Bank Group President Ajay Banga -marking the first visit by a Bank President in two decades and signalling a renewed commitment to the country's economic recovery and future.