The World Bank Group and the Government of Sri Lanka launched a new five-year Country Partnership Framework to support Sri Lanka’s recovery and prioritise private sector-led job creation and higher private investment, aligned with a 7% medium-term growth target. The framework is positioned against an expected influx of nearly one million young people into the labour market over the next decade and an estimate that, without stronger growth and investment, only around 300,000 new formal jobs would be created. The partnership envisages more than USD 1 billion in direct and mobilised investment over five years by the International Finance Corporation and up to USD 1 billion in low-interest World Bank financing over the next three years, alongside guarantees, advisory services, and private capital mobilisation. It focuses on simplifying regulations, modernising trade processes, and expanding online government services to support an ambition to double annual export earnings to USD 36 billion by 2030; infrastructure upgrades including expanding Port of Colombo capacity and attracting private operators; an energy programme targeting 70% renewable electricity by 2030 and 1 gigawatt of new clean power; job creation in tourism and agriculture including support for the Tourism Strategic Plan 2026–2030 and dedicated support for the Northern and Eastern Provinces; and strengthened preparedness for future shocks following Cyclone Ditwah in November 2025. Implementation is set to begin immediately, with the World Bank’s Board of Executive Directors approving the first major project under the framework, the USD 100 million REVIVE Project for the Northern and Eastern Provinces, expected to create 3,000 new jobs and benefit around 260,000 people by 2031.
World Bank 2026-04-02
World Bank Group launches five-year Sri Lanka Country Partnership Framework with up to USD 2 billion in financing and investment
The World Bank Group and Sri Lanka have launched a five-year Country Partnership Framework to support economic recovery, private sector-led job creation and higher private investment, aligned with a 7% medium-term growth target. It envisages over USD 1 billion in IFC investment and up to USD 1 billion in low-interest World Bank financing, focusing on regulatory simplification, trade and infrastructure modernisation, renewable energy, and targeted support for tourism, agriculture and the Northern and Eastern Provinces. The World Bank Board has approved the first major project, the USD 100 million REVIVE Project for the Northern and Eastern Provinces, expected to create 3,000 jobs and benefit about 260,000 people by 2031.