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ADB’s knowledge engagement in Sri Lanka to be aligned with govt’s reform programme

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The assistance of the Asian Development Bank (ADB) to help Sri Lanka recover from the crisis will be aligned with the strategic objectives of the Bank’s country partnership strategy (CPS) 2024–2028, Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB said.

Mr. Kadono made this comment at the ‘Serendipity Knowledge Programme’ (SKOP) held on April 3, at the Cinnamon Lakeside Hotel in Colombo. The latest event under SKOP saw the launch ADB’s Country Plan 2024-2028, which will guide its operations in Sri Lanka over the next five years.

Mr. Utsav Kumar, Senior Country Economist ADB gave a comprehensive overview of CPS, setting the tone for ADB’s knowledge programme dedicated to Sri Lanka.

The programme is designed to respond effectively to the country’s needs in line with the vision of ADB as a knowledge solutions bank. SKOP seeks to share knowledge on issues relevant to Sri Lanka and facilitate discussion among stakeholders.

“During 2024-2028, ADB operations in Sri Lanka will focus on strengthening public financial management and governance, fostering private sector development promoting green growth, and improving access to climate-smart public services and deepening inclusion,” Mr. Kadono said.

“To revive Sri Lanka’s crisis-affected economy and address the root causes of the crisis, the government has embarked on an ambitious reform programme, supported by an International Monetary Fund extended fund facility. Policy advisory support, technical assistance, and knowledge solutions will underpin Asian Development Bank (ADB) assistance to help the country recover from the crisis,” he emphasised.

The following are some excerpts from his speech.

“Sri Lanka’s reforms to restore debt sustainability focus on improving public financial management (PFM), increasing domestic resource mobilization (DRM), reforming state-owned enterprises (SOEs), and addressing governance weaknesses. To address long-standing DRM limitations, knowledge support and capacity building will be needed for property tax reform and strengthening tax administration. ADB will provide knowledge support for diagnostic assessments and for identifying solutions based on global good practices on PFM strengthening and debt management, and for improving SOE performance. Capacity building will also be needed to strengthen institutions and improve governance. Knowledge support and capacity building are required to transition to a low-carbon and resilient economy through climate diagnostic studies, climate change regulatory and planning frameworks, training on climate-informed decision-making, and greening the PFM system.”

“To foster private sector development (PSD), knowledge support is needed for introducing policies and regulations to create an enabling environment for private investment and public–private partnerships. Knowledge solutions are needed to boost trade and integration with global value chains, develop economic zones and promote an ecosystem for small and medium-sized enterprise (SME) development.”

“Areas that require comprehensive knowledge inputs include finance sector stability and sustainability, capital market development, legal and regulatory frameworks for sustainable finance, development of a green bonds framework, and financial inclusion. ADB’s support for reforms in these areas will be accompanied by assistance to build capacity in existing or new institutions. Further, capacity building and knowledge support will be provided to improve trade facilitation and enable the country to integrate better into global and regional markets,” he said.

ADB will collaborate and coordinate with other development partners on knowledge support through the Development Partner Secretariat and the MDB+ platform to avoid duplication, realise synergies, and share expertise. ADB and the ADB Institute will also proactively engage with the private sector, civil society, think tanks, and academia, as necessary, to leverage their knowledge base for implementation of the country knowledge plan.



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HNB Finance bags 2 CMA Reporting Awards 2025

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Prof. Ho Yew Kee presents the award, while Rajeeva Bandaranaike hands over the certificate to the HNB Finance team. Featured (right to left): Thushara Jayasekara – Chief Manager / Head of Corporate Planning & Analytics; Randula Munindradasa – Assistant Manager Planning & Analytics; Sandakelum Jayathunga – Senior Manager – Financial Reporting; Maheshika Samarakoon – Manager – Strategy Implementation & Reporting

HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.

At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.

The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.

Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”

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ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises

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Mithila Shyamini, Assistant General Manager – Personal Banking at Commercial Bank and Jude Fernando, Chief Executive Officer of the National Credit Guarantee Institution exchange the agreement in the presence of representatives of the two organisations

The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.

The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.

Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.

‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.

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Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations

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Defence Secretary Air Vice Marshal (Retd) Sampath Thuyacontha receiving the donation from Sajith Gunaratne - General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera - General Manager of Ceylon Grain Elevators PLC

Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.

As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.

The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.

Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.

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