News
New ADB ‘Partnership Strategy’ for Sri Lanka announced
USD 25.6 mn in private sector investments and USD 3.7 mn in state sector loans
MANILA, PHILIPPINES (19 March 2024) —The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024–2028. The strategy will focus on restoring the country’s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience.
“This new partnership strategy will build on ADB’s ongoing assistance to support the country’s efforts to restore macroeconomic stability, and to achieve green and long-term sustainable growth,” said ADB Country Director for Sri Lanka Takafumi Kadono.”
As of the end of December 2023, ADB had committed more than $3.7 billion in 45 public sector loans and grants in Sri Lanka, as well as $25.6 million in private sector investments.
The CPS responds to Sri Lanka’s economic situation by tailoring ADB assistance to address the country’s long-standing macroeconomic imbalances and structural impediments through knowledge solutions, policy advisory support, and priority investments.”
Sri Lanka is showing signs of stability and recovery from a deep economic crisis. Data shows that Sri Lanka’s inflation significantly declined from 69.8% to 4.0% between September 2022 and December 2023. Foreign exchange reserves have increased to $4.4 billion in 2023 from $1.9 billion in 2022. Sri Lanka’s economic growth returned to positive territory in the second half of 2023 and that momentum is likely to continue.
ADB’s assistance under the new CPS for Sri Lanka will focus on three strategic objectives: strengthening public financial management and governance; fostering private sector development promoting green growth; and improving access to climate-smart public services and deepening inclusion. Three thematic priorities—climate action, disaster resilience and environmental sustainability; gender equality and social inclusion; and governance, capacity development, and digitalization—will be integrated into the new CPS strategic objectives.
The new CPS will support the country’s efforts to tackle the key underlying causes of the crisis. ADB will focus on reforming public financial management system, strengthening governance, accelerating domestic resource mobilization, and improving fiscal and debt sustainability, as well as measures to improve the performance of state-owned enterprises.
The strategy recognizes the critical role of the private sector in the country’s recovery and long-term economic growth. Structural reforms to promote greater private sector participation in the economy and diversify the economy with emphasis on green and sustainable growth will be supported under the new strategy. ADB will continue to support financial inclusion and small and medium-sized enterprises development, especially those managed by women, and provide advisory and capacity building support to promote trade and investment. The strategy aims to improve access to climate-smart public services and deepen inclusion through strengthening social protection and human capital development and fostering agriculture modernization.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
News
Chief Sanghanayaka of Sabaragamuwa Province felicitated
The “Gauravabhinandana” ceremonial felicitation was held in honour of the Chief Sanghanayake of the Sabaragamuwa Province of the Malwathu Maha Vihara Chapter of the Maha Vihara tradition of the Siyamopali Maha Nikaya; former Pirivena Examiner; Rajakiya Pandith; holder of Master; Scholar of classical texts; recipient of the Kala Bhushana title; Vinaya Keerthi Sri Dhammdinna Saranapala; the Most Venerable Kaeligama Vijithananda Nayaka Thero on Wednesday [25th of February] at the auditorium of the Rathnapura District Secretariat
The event was organized under the patronage of the Anunayake of the Malwathu Chapter of the Siyamopali Maha Nikaya, Most Venerable Acharya Agga Maha Panditha Niyangoda Dharmakeerthi Sri Sangharakkhitha Vijithasiri Abhidhana Anunayake Thero.
The presentation of the symbolic casket to the Most Venerable Kaeligama Vijithananda Nayaka Thero took place with the participation of Prime Minister Dr. Harini Amarasuriya and the Governor of Sabaragamuwa Province, Ms. Champa Janaki Rajaratne.
Addressing the gathering, the Prime Minister stated:
“It is a privilege for me to participate in this felicitation ceremony held in appreciation of the religious and social service rendered by the Chief Sanghanayaka of the Sabaragamuwa Province, Most Venerable Kaeligama Vijithananda Nayaka Thera.
When we reflect on his life journey, it serves as a profound inspiration to us all. Having entered monastic life as a disciple of the Sabaragamuwa prelate, the late Most Venerable Kelle Sri Saranananda Thero, the Nayaka Thera has now rendered over five decades of distinguished service following higher ordination.
After obtaining a Bachelor of Arts degree from the Vidyodaya University, he devoted several decades as a Pirivena teacher and examiner, enlightening thousands of students. He has also authored numerous scholarly works. His classical literary contributions, especially for students of Pirivena education, are of exceptional value”.
The Prime Minister further recalled with gratitude the commitment shown by the Nayaka Thera, centred around the Ratnapura Mahawala Sri Dharmayathana, to uplift the spiritual and social well-being of the local community, and extended her wishes for good health and long life for the continuation of his invaluable service to the Buddha Sasana.
The occasion was also graced by the presence of Most Venerable Karagoda Uyangoda Maithreemurthi Thera, Supreme Mahanayaka of the Sri Lanka Amarapura Maha Sangha Sabha; the Anunayaka of the Sri Lanka Ramanna Maha Nikaya, Waleboda Gnanissara Thera; Lecturer of the University of Peradeniya and Deputy Registrar of the Malwathu Chapter, Panditha Mahawela Dhammakkhanda Rathanapala Thera; the Chief Sanghanayaka of Ratnapura and Uva Wellassa and former Vice-Chancellor of Uva Wellassa University, Bethgamuwa Dhammadinna Thera; along with members of the Maha Sangha. The occasion was also attended by the Minister of Buddhasasana, Religious and Cultural Affairs Sunil Senavi, Governor of Sabaragamuwa Province, Ms. Champa Janaki Rajaratne, Member of Parliament Shantha Padmakumara, former Members of Parliament A. A. Wijethunga and Janaka Wakkumbura, Ratnapura District Secretary Chinthana Udaya Nanayakkara, Basnayake Nilame of the Maha Saman Devalaya Ishan Sanka Mapitigama, Mayor of Ratnapura Indrajith Katugampala, and many other distinguished invitees.



[Prime Minister’s Media Division]
News
Sajith raises fresh concerns over toxic pollutants emanating from burning of substandard coal
Opposition and SJB Leader Sajith Premadasa yesterday raised serious concerns over the Government’s importation of substandard coal, warning that its use has resulted in inefficient electricity generation, increased equipment damage and significant financial losses to the State and consumers.
In a video statement, the Opposition Leader said the SJB had exposed details regarding the importation of inferior-quality coal, prompting what he described as an admission by Government representatives that the coal in question was of poor standard.
Premadasa charged that the continued use of such coal has reduced generation efficiency at the Norochcholai Power Station, while increasing the likelihood of damage to critical equipment.
He further claimed that ash content had risen sharply, from the accepted 11–15 percent range, to over 21 percent, doubling the volume of toxic pollutants generated. The disposal of the excess ash, he said, poses additional environmental risks.
The Opposition Leader also noted that a further 15 to 16 coal shipments are expected to arrive within the next two to three months. However, he alleged that the failure to procure high-quality coal has reduced megawatt output, necessitating greater reliance on fuel-powered plants to bridge the shortfall.
“This results in financial losses to the country, the Government, and, ultimately, to electricity consumers,” he said.
Premadasa cited Section 30 of the Electricity Act of 2009, maintaining that consumer tariffs can only be imposed, based on efficient electricity generation. He urged the Public Utilities Commission of Sri Lanka to safeguard the rights of the country’s 7.5 million electricity consumers, insisting that losses stemming from inefficient generation cannot lawfully be passed on to the public.
He further alleged that the Government’s promised “system change” had, instead, resulted in questionable coal procurement deals. The financial losses incurred through, what he termed, corrupt transactions, he argued, could have been channelled into essential public services, such as education, healthcare, poverty relief and support for entrepreneurs.
Premadasa called not for the appointment of a committee of experts, but for a full forensic audit into the transactions surrounding the coal imports.
He stressed that the SJB would continue to stand in defence of electricity consumers and asserted that the President and Cabinet must accept responsibility for the damage allegedly caused to the Norochcholai power plant, which, he described, as a national asset.
News
Cyclone Ditwah relief halted over unresolved issues
Grama Niladharis, Disaster Relief Service Officers, and Technical Officers have temporarily suspended Cyclone Ditwah-related relief operations, citing unresolved administrative and financial issues. The halt began yesterday (27).
The decision stems from the absence of a formal circular for relief assessment and the non-payment of promised allowances.
Upul Kumara, Chairman of the All Island Disaster Relief Services Officials’ Union, said there is still no proper system in place for delivering Cyclone Ditwah relief.
He added that trade unions, representing Grama Niladharis, who manage relief distribution, and Technical Officers, responsible for disaster damage assessments, had discussed continuing relief operations. Despite this, 95 days after the cyclone struck, the government has yet to implement the necessary mechanisms to ensure proper relief delivery.
“As a result, all parties involved have collectively decided to initiate this trade union action,” Kumara said.
He noted that discussions with the relevant secretaries had already taken place and formal demands submitted. “We are informing the President that we no longer require discussions with the secretaries. Our demands have been presented. This action is, therefore, necessary,” he added.
Kumara emphasised that all Grama Niladharis, Disaster Relief Service Officers, and Technical Officers, engaged in relief operations, will suspend Ditwah-related duties until proper directives are issued and allowances are paid.
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