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Saturday, October 31 2026
Saturday, October 31 2026
MONETABRIEF - Sri Lanka is implementing a World Bank supported program to help 900,000 farmers and fishermen move to higher value activities and connect with private business and export markets by 2030, Prime Minister Harini Amarasuriya said.
The government is ready to make reforms, remove obstacles and also invest in infrastructure including in irrigation and roads, she said at launch.
In Sri Lanka there are serious obstacles to transforming agriculture including land use restrictions (the Paddy Lands Act), as well as quarantine rules that prevent better genes from coming in and subsidies and import controls that low yields, critics have said.
Project also involves making farmers resilient to rising climate shocks
The project is supported by 450 million dollars from the World Bank, 100 million by the International Finance Corporation, 115 million from International Fund for Agricultural Development, Mara Warwick, Regional Director, Planet South Asia, World Bank Group said.
Another 170 million is expected from the private sector.
The project aims to cut current 30 percent post harvest losses, provide financing, crop insurance and technology for small holder farmers.
It will also halp turn 30 percent low productive paddy lands to high value fruits and vegetables farms, connect private enterprises and cold chains. (Colombo/Oct30/2026)
| 3 month bill | 9.26% | 1bp ▲ |
| 12-m bill | 9.95% | 2bp - |
| Gold (Ounce) | $4015 | - ▼ |
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