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Driving sustainable investment: The crucial role of sustainable finance and private capital for Sri Lanka
Sri Lanka stands at a critical juncture, seeking avenues for sustainable development while positioning itself as a responsible global player. In this pursuit, sustainable finance and private capital have emerged as a transformative force, offering a unique opportunity to address pressing environmental and social challenges while driving economic growth. By integrating sustainability principles into its financial systems and attracting private investments, Sri Lanka can unlock new avenues of investment, attract international capital, and create a resilient and inclusive economy.
The Sri Lanka SDG Investor Map, developed by the United Nations Development Programme (UNDP) through the strong collaboration of the Sustainable Development Council of Sri Lanka and the Board of Investment (BOI), provides tangible market intelligence on 15 investment opportunity areas across 5 key sectors that support Sri Lanka’s advancement towards the Sustainable Development Goals (SDGs). The 5 sectors – Healthcare, Renewable Energy, Food & Beverages, Consumer Goods, and Infrastructure – can attract private sector investment and mobilize global private capital towards SDG-aligned investments.
As a follow-up to the launch of the SDG Investor Map, a series of collaborative sector deep dive workshops were convened, aligned to the key Investment Opportunity Areas identified through the Map, engaging a broad group of private sector representatives, investors, policy makers and development partners.
Based on these consultations, a report highlighting ‘Sector insights, challenges and opportunities for mobilizing private capital towards SDG aligned investment opportunity areas’ was launched recently, with the participation of the State Minister of Finance Shehan Semasinghe; the Director Generals of the Sustainable Development Council and BOI; other Government officials and development partner representatives.
Highlighting the ambition and Plans of the Government of Sri Lanka on relevant policy reforms, Minister Shehan Semasinghe, State Minister of Finance stated that “We are committed to creating a favorable investment climate through regulatory reforms, and attract foreign, and local investments, and facilitate investment opportunities that will generate, positive, social, and environmental impacts, to ensure financial returns. We will improve fiscal transparency, public financial management, introduce a stronger anti-corruption legal framework, and our anti-corruption reform will align Sri Lanka’s legal framework with international standards.”
The role of private capital and investment is more important, now more than ever, to support recovery, prevent regression and help re- accelerate towards a sustainable development trajectory for the country.
Setting the Stage for SDG based Investments in Sri Lanka, Chamindry Saparamadu, Director General, Sustainable Development Council of Sri Lanka stated “We must remain steadfast in our ambition to achieve the Sustainable Development Goals (SDGs), but we must also act swiftly, employ intelligent strategies, make wise investments, strengthen global partnerships, and build upon our collective commitment to the SDGs. In this regard, the SDG Investor Platform plays a crucial role by providing investors with critical data, insights, and tools necessary to channel increased capital towards the SDGs. By doing so, it will assist Sri Lanka in unlocking vital financing required to overcome economic challenges and ultimately advance the well-being of both our people and the planet.”
In her remarks at the event, Azusa Kubota, Resident Representative, UNDP in Sri Lanka highlighted “Any investment will bring resources to the country, but we want them to be SDG-aligned to ensure sustainable, inclusive, and green growth for Sri Lanka. We want quality investments that create employment with dignity. Given that the Sri Lanka SDG Investor Map focuses on SDGs to bring in a strong impact narrative alongside commercial returns, there should be a strong emphasis on sustainability at the core underpinning all investment choices.”
Also speaking at the event, Renuka Weerakone, Director General, Sri Lanka Board of Investment noted, “It is our intention to explore and accept green funding opportunities to accelerate sustainable development projects in Sri Lanka. We firmly believe that by harnessing green finance mechanisms and capitalizing on sustainable investment opportunities, we can maximize the positive impact of our endeavors and we request the support and collaboration of UNDP in this regard. We firmly believe that investment and sustainable development are intimately linked, and by embracing this interconnection, we can unlock unprecedented opportunities for growth, innovation, and shared prosperity.”
Opposition and SJB Leader Sajith Premadasa yesterday raised concerns over the recent suspension of Parliament’s Deputy Secretary General and Chief of Staff, G.K.A. Chaminda Kumara Kularatne, alleging that the process appeared to be mala fide. Addressing Speaker Jagath Wickramaratne in Parliament, Premadasa said that the existence of a personal disagreement between the Speaker and the suspended official had created a potential conflict of interest.
Premadasa said disciplinary action against senior parliamentary officials had to be taken in keeping with established parliamentary precedents. He also questioned the legality and propriety of a lower-ranking official leading an inquiry against a senior officer.
“For the first time, we are witnessing a rift between the Speaker and the staff of the Secretary-General. All parties must step back, act democratically and ensure that the fundamental rights of Chaminda Kularatne are safeguarded,” he added.
ITAK Batticaloa District MP Shanakiyan Rasamanickam said Kularatne had not been given an opportunity to respond to the allegations made against him.
“This is a disgraceful situation. A complaint has been lodged against you with the Bribery Commission. Parliament is the supreme institution of democracy in this country, and the precedent being created here is dangerous,” Rasamanickam said, addressing the Speaker.
SJB Kandy District MP Chamindranee Kiriella said the Speaker was duty-bound to inform the House before disciplinary action was taken against a parliamentary official. SJB MP Ajith P. Perera said it was unethical for the Speaker to assume a leadership role in the inquiry, and called for the matter to be entrusted to an independent authority.
Responding on behalf of the Government, Chief Government Whip and Health and Mass Media Minister Dr Nalinda Jayatissa said the chief investigating officer, S.K. Liyanage, an Additional Secretary, had been appointed by the Staff Advisory Committee on 25 August, 2025. He said Liyanage had been selected from a pool of qualified officers at the Ministry of Public Administration and had prior experience in conducting investigations.
Leader of the House and Transport Minister Bimal Rathnayake said the Staff Advisory Committee had agreed on the respective powers of parliamentary officials, noting that the Secretary General would hold powers equivalent to those of Ministry Secretary, while the Deputy Secretary General would hold powers equivalent to those of an Additional Secretary.
“There is no irregularity in the conduct of the investigation or in the appointment of the investigating officers,” Rathnayake said.
On 24 January, 2026, Parliament announced the immediate suspension of Deputy Secretary General and Chief of Staff Chaminda Kularatne with effect from 23 January, citing concerns relating to his appointment. Kularatne had assumed duties on 15 September, 2023.
On Monday, Kularatne filed a complaint with the Commission to Investigate Allegations of Bribery or Corruption against Speaker Jagath Wickramaratne, alleging corruption. His legal counsel, Attorney-at-Law Mithun Dias, said the complaint had been filed against the Speaker in his personal capacity and not against the government.
However, Dr Jayatissa told the House that the investigation into Kularatne was based on concerns relating to his appointment, qualifications and the process by which he had been confirmed in that post and was not linked to any personal dispute with the Speaker.
By Saman Indrajith
The 78th Independence Day celebrations in the Central Province are scheduled to be held today from 8:00 AM at the Bogambara Stadium, Kandy.
The celebrations are jointly organised by the Central Provincial Council and the Kandy District Secretariat. The Governor of the Central Province, Prof. S.B.S. Abeykoon, is expected to grace the occasion as the Chief Guest.
The event will also see the participation of Kandy District Members of Parliament, the Chief Secretary of the Central Province, Mr. Ajith Premathilake, as well as representatives from the Tri-Forces, Police, school students, and various voluntary organisations.
The ceremony will feature a formal parade and cultural performances by school children.
By S.K. Samaranayake
Minister of Transport, Highways, and Urban Development, Bimal Rathnayake, has announced that the reconstruction of the Colombo-Kandy railway line, which was severely damaged by landslides in the Balana and Kadugannawa areas, will be completed within this year to restore normal train services.
The Minister made this statement during the Kandy District Development Committee meeting held at the District Secretariat. He noted that work will commence following the observations and technical reports provided by the National Building Research Organisation (NBRO) regarding the stability of the landslide-affected areas.
Financial Management and Development
Minister Rathnayake emphasised that the government possesses the necessary funds for development projects.
“Our government has the funds. However, all officials must ensure these funds are managed efficiently so that they are fully utilised for development, without being returned to the Treasury at the end of the year,” he stressed.
Improvements in Public Transport
Highlighting the progress in the transport sector, the Minister shared several key updates
• Recruitment: 700 new employees have been recruited to the Sri Lanka Transport Board (SLTB) and are currently undergoing training.
• School Transport: Steps are being taken to strengthen the ‘Sisu Sariya’ school bus service within the Kandy District.
• Infrastructure: The reconstruction of the Peradeniya Black Bridge (Kalu Paalama), which was damaged during the ‘Ditwah’ disaster, is nearing completion.
Welfare facilities for Private Transport Workers
The Minister also revealed plans to support the welfare of private bus drivers and conductors.
“We must look after the workers in the private transport sector as well. We are planning to establish a welfare fund for them and are taking steps to include them in the Employees’ Provident Fund (EPF) system,” he added.
Concluding his remarks, the Minister urged state officials to perform their duties responsibly and ensure that the inefficiencies seen under previous administrations do not recur.
By S.K. Samaranayake
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