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Driving sustainable investment: The crucial role of sustainable finance and private capital for Sri Lanka

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Director General, Sustainable Development Council of Sri Lanka, Chamindry Saparamadu, Director General - BOI, Renuka Weerakone and UNDP resident representative in Sri Lanka Azusa Kubota speaking at the event

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.”



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Sun directly overhead Bentota, Thiniyawala, Iththakanda, Udawalawe, and Kataragama about 12.08 noon t9day (06)

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The sun is going to be directly over the latitudes of Sri Lanka from  28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is
overhead today (06) are Bentota, Thiniyawala, Iththakanda, Udawalawe, and Kataragama about 12.08 noon

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UN welcomes Lanka’s anti-graft drive, seeks end to impunity

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MONETABRIEF –The UN human rights chief on Thursday welcomed Sri Lanka’s robust anti-corruption drive but urged President Anura Kumara Dissanayake to apply the same vigour to ending impunity for continuing rights abuses.

In its latest report to the UN Human Rights Council in Geneva, High Commissioner Volker Turk noted that cases of torture and deaths in custody continued to be reported in Sri Lanka despite the change of administration.

“While it is encouraging that the Sri Lankan authorities have taken action to address corruption cases and some crimes linked to the post-war period, more needs to be done to end the long legacy of impunity in the country,” the rights chief said.

His report, covering October 2025 to July 2026, notes steps to tackle corruption, including high-profile arrests and investigations linked to political killings, enforced disappearances and the 2019 Easter Sunday attacks.

He said it had been a difficult period for Mr Dissanayake’s new government, following the devastating Cyclone Ditwah which killed some 650 people and devastated much of the island and a global spike in energy prices.

The report noted that the Human Rights Commission of Sri Lanka had documented 602 cases of torture and ill-treatment in 2025 and 138 cases by April 2026.

The local commission also reported 18 deaths in custody last year and a further three by April this year. In one such case, a 40-year-old inmate detained for a minor drug-related offence died at Welikada Prison in Colombo on 3 May, allegedly from severe beatings.

“This Government still has an opportunity to turn the tide on decades of abuse of executive power, repressive laws and custodial violence, and entrenched impunity,” Turk said.

He regretted that the government had yet to deliver on its promise of legal and institutional reforms and continued to apply the repressive Prevention of Terrorism Act (PTA), resulting in arbitrary arrests and prolonged detention without charge.

Civil society actors, activists and journalists remained subject to state surveillance, while tensions over land and religious sites continued to simmer, the report said.

It also highlighted violent riots at Negombo Prison in July, which left at least 32 dead, underscoring the urgent need for prison reform to address systemic issues, including severe overcrowding.

The UN Human Rights Office had received at least 16 allegations of surveillance against civil society actors, activists and journalists, the report said.

There was “a clear and continuing pattern of state surveillance, intimidation and reprisals by military and intelligence officials, including from the Criminal Investigations Department or the Terrorism Investigation Division”.

“Individuals are repeatedly questioned about their travels, especially to Geneva and engagement with UN human rights processes, as well as their organizational affiliations, funding sources, and participation in protests or commemorative events.”

While the Government had continued to denounce racism and promote national unity, wider efforts to ensure truth and justice risked stalling and the momentum for transformative change being lost, the report warned.

Failures to effectively investigate and prosecute crimes under international law allegedly committed during the armed conflict persisted.

“It is crucial that there is decisive and meaningful action toward accountability for crimes and violations by all parties during the more than two-decade armed conflict,” Turk said.

He noted the recent decision by the Attorney-General to indict former Eastern Province Chief Minister Sivanesathurai Chandrakanthan, also known as Pillayan, and three others in connection with the abduction and murder of former Eastern University Vice-Chancellor Professor Sivasubramaniam Raveendranath in 2006.

“It is, however, regrettable that many other serious emblematic cases remain stalled for years, including the killing of 17 Action Contre La Faim aid workers in Muttur 20 years ago,” he said, calling for meaningful steps to resolve such delays.

The High Commissioner urged Sri Lanka to redouble its reconciliation and accountability efforts. He called for a moratorium on the use of the Prevention of Terrorism Act pending its repeal, as well as the release of long-term detainees held under it.

He also called for all individuals credibly accused of human rights violations to be excluded from senior positions in government, the security sector or the diplomatic service until such allegations were genuinely addressed and resolved.

He urged the Government to support victims’ memorialisation initiatives and to release military-occupied lands.

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Dispute which triggered listed company director being detained at BIA resolved

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A dispute between a wholly owned subsidiary  of Lanka Realty Investments PLC, Mulberry Holdings (Pvt) Ltd., and a contractor, Omni Engineering & Trading Solutions, that resulted in Executive Director Hisham Jamaldeen of Lanka Realty being stopped at Katunayake and prevented from leaving on a business visit to the UK has been resolved with Jamaldeen bailed and the travel ban imposed on him revoked by the Maligakanda Magistrate, Lanka Realty’s said in a Stock Exchange filing last week.

This followed Mulberry agreeing to pay Rs. 25 million to Omni on or before Sept. 26.

Following media reports of Jamaldeen being prevented from leaving the country at the BIA, Lanka Realty made two Stock Exchange filings on Sept. 3 – the first detailing the dispute between the two parties and the second indicating that the matter had been settled.

In the first filing, the Secretaries for Lanka Realty said:

“The article refers to Mr. Mohamed Hisham Jamaldeen, Executive Director of Lanka Realty Investments PLC and a Director of Mulberry Holdings (Pvt) Ltd, a wholly owned subsidiary of the Company and the developer of “Mulberry Residences” in Colombo 10.

“Mulberry Holdings (Pvt) Ltd entered into a construction contract with Mr. Randika of M/s Omni Engineering & Trading Solutions on 21st June 2022 for a sum of LKR 32,854,992.00), which is less than 1% of the total value of the “Mulberry Residences” Project which is around LKR 3.6 Billion.

“The said contract is governed by the CIDA/SBD1 Standard Bidding Document Conditions of Contract, which provides for adjudication and, if required, arbitration as the applicable dispute resolution process. The Company understands that the underlying matter relates to a contractual payment dispute involving Mulberry Holdings (Pvt) Ltd’s aforcsaid contract.

“Following a call received from the Colombo Crime Division (CCD), Mr. Jamaldeen went to the CCD on 25th August 2026 and provided a statement in relation to the matter inter alia explaining that the matter in dispute was arising from a civil contract. He was not arrested on that date and was not informed at that time or thereafter prior to receiving information at the Airport, that a travel ban had been imposed.

“On 2nd September 2026, while travelling overseas for business on a pre-arranged itinerary, Mr. Jamaldeen was informed at immigration of a travel ban imposed on 24th August 2026, following which he was arrested by the CCD. A bail application is expected to be made when Mr. Jamaldeen is produced before the Magistrate’s Court of Maligakanda today, 3rd September 2026.”

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