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Public investment for closing the SDG financing gap: Sri Lankan perspective

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A new IPS study highlights the critical role of public investment in achieving Sustainable Development Goals (SDGs) in Sri Lanka.

The study reveals that bridging the SDG financing gap is vital, with an estimated additional investment requirement of USD 1.4 trillion, equivalent to 12.5% of GDP by 2030.

Policymakers must create an enabling environment for public and private investment, emphasising macroeconomic stability, transparency, and innovative financing strategies for SDG progress.

Dr Lakmini Fernando

Sri Lanka, like many nations, grapples with the challenge of bridging the gap between aspirations and resources to achieve the United Nations’ 2030 Agenda for Sustainable Development. A new study conducted by the Institute of Policy Studies of Sri Lanka (IPS) delves into this issue, highlighting the pivotal role of public investment in driving progress toward Sustainable Development Goals (SDGs) while emphasising the urgent need for financial strategies.

The study titled ‘Public Investment for Closing the SDG Financing Gap: Sri Lankan Perspective’ by IPS Research Fellow Dr Lakmini Fernando sheds light on the significant role of public investment in not only supporting the development process but also encouraging private investment. Given the dearth of systemic research on this nexus, the study highlights the importance of assessing the investment gap in SDG financing to enhance governments’ financial readiness. The study emphasises that a comprehensive fiscal needs assessment for SDGs is crucial for effective planning and budgeting at the country level. This report aims to contribute significantly to the existing literature on SDG-related research. The key findings of the study are highlighted below.

Key Findings:

The Investment Gap: To achieve key SDGs, emerging market economies (EMEs) need to allocate an additional 4% of their gross domestic product (GDP), while low-income countries (LICs) require a significant 15%. In Sri Lanka, the estimated additional investment requirement for SDGs by 2030 is approximately USD 1.4 trillion (Tn) or 12.5% of GDP, emphasising the critical need for securing additional funds. On average, Sri Lanka’s public investment is around 5-7% of GDP over the last decade, hence, the allocation of additional funds for SDGs is challenging.

Imbalanced Investment: Sri Lanka’s public investment allocation has been skewed toward infrastructure development, leading to disparities in sectors like education and technology/information communication technology (ICT). These imbalances pose challenges to meeting the development goals set by the 2030 Agenda.

The Role of the Public Sector: Bridging the investment gap cannot rely solely on the public sector; private sector participation is essential. Policymakers play a crucial role in creating a conducive investment climate, emphasising the need for macroeconomic stability, transparency, accountability and enhanced institutional quality.

Innovative Financing: The study highlights the significance of both traditional and non-traditional financing methods for SDG progress. Tax reforms, blended finance for SDG infrastructure, international tax reforms, and other strategies are discussed as potential means to mobilise financial resources for the SDGs.

Recommendations:

The study suggests several key recommendations to ensure the successful achievement of the 2030 Agenda in Sri Lanka:

Foresight Planning: Utilise the SDG framework as a tool to review and adjust sectoral investments, fostering a balanced approach.

Long-Term Targets: Extend short- and medium-term targets to long-term goals, aligning national objectives with the SDGs.

Domestic Resource Mobilisation: Strengthen domestic revenue collection to enhance financial readiness for SDG implementation.

Innovative Financing: Explore various innovative financing options and promote international cooperation in funding SDG initiatives.

Public-Private Partnership: Foster an enabling business environment through macroeconomic management, governance improvements, and the selection of productive projects.

Access the full policy discussion brief here: https://bit.ly/40Zhdhm



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Asia-Pacific business leaders to accelerate sustainable business action

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More than 200 senior business leaders, policymakers, investors, sustainability practitioners and United Nations representatives convened in Colombo on 11–12 August for Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth—the United Nations Global Compact’s flagship regional forum in Asia-Pacific.

Hosted by UN Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 Global Compact Country Networks, the forum strengthened regional collaboration and demonstrated the growing role of business leadership in advancing sustainable and inclusive growth across Asia-Pacific.

More than 80 high-level speakers from across the region contributed to the two-day programme, bringing together expertise from business, finance, government, the United Nations and civil society. The forum also convened an exceptional audience of CEOs, C-Suite, Board Directors, Heads of UN agencies and senior decision-makers, creating one of the region’s most significant platforms for cross-sector dialogue on sustainable business.

Across plenary dialogues, leadership panels and action-oriented workshops, participants explored the issues shaping the future of business in Asia-Pacific, including climate action, sustainable finance, gender equality, resilient supply chains, water stewardship, governance and integrity, digital innovation, human rights due diligence, circular economy solutions and ESG data for decision-making. Rather than focusing solely on ambition, Forward Faster Now challenged businesses to move from broad sustainability goals to target setting, practical decisions, stronger systems and action that can deliver progress at scale.

A defining milestone of the forum was the visit of Sanda Ojiambo, Assistant Secretary-General, CEO and Executive Director of the UN Global Compact. Her presence in Sri Lanka underscored the country’s growing role within the regional sustainability agenda and reinforced the importance of private sector leadership in delivering the Sustainable Development Goals.

Beyond the public programme, her visit included a series of bilateral engagements and strategic convenings with business and institutional leaders, deepening relationships and opening new avenues for engagement between the UN Global Compact and stakeholders in Sri Lanka.

The event also marked the launch of three significant initiatives by UN Global Compact Network Sri Lanka that will extend the impact of the convening well beyond the event itself. The Responsible Business Coalition was introduced as a new partnership to embed sustainability, and strengthen governance by bringing together Sri Lanka’s leading professional and industry associations to embed the Ten Principles of the UN Global Compact into their existing convening, training and thought-leadership channels, moving responsible business from a standalone function to a shared C-Suite and Board responsibility.

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Sri Lanka Insurance Corporation General celebrates ‘One Team, One Vision’ sales excellence at Annual Awards 2025

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The Sri Lanka Insurance Corporation General Ltd. (SLICGL) team gathered to honour its top-performing sales professionals at the Annual Sales Awards 2025, held under the theme ‘One Team, One Vision’ on 20th August at the Monarch Imperial.

The evening convened sales leaders and high achievers throughout the island to celebrate a year of sustained performance, customer trust, and commitment which has kept SLICGL at the forefront of Sri Lanka’s general insurance sector.

Affirming SLICGL’s appreciation for the people driving success on the ground, the Sales Awards 2025 recognised those who went beyond targets, deepened client relationships, and contributed directly to the company’s continued expansion.

The event drew an unprecedented audience of over 700 participants. This year’s celebrations recognised a record number of winners, more than double the achievements honoured last year covering a diverse range of award categories reflecting excellence at every level of the business.

Nusith Kumaratunga, Chairman, Sri Lanka Insurance Corporation graced the event as the Chief Guest together with the Board of Directors and senior management of SLICGL also present as invited guests, encouraging and commending the winners for their outstanding achievements.

The award winners at this year’s ceremony included Insurance Advisors, Marketing Executives, Branch Managers, Regional Managers, and members of the Head Office Sales Channels, who were recognised and celebrated for their outstanding achievements in multiple categories.

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Sri Lanka to host SEARIC Summit 2026 for the first time, welcoming over 500 youth leaders from across South East Asia

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(Left to Right: District Rotaract Representative of Sri Lanka and Maldives - PHF Rtn. Rtr. PP Dr. Jude Lucian, Chief Executive Officer of Destination Management Sector at John Keells Holdings PLC – Nalaka Amaratunga, SEARIC Summit Sri Lanka 2026 Chair – PDRR Akhila Wijetunga, Rotary District 3220 Governor of Sri Lanka and Maldives - Rtn. Kumar Sundararaj)

Sri Lanka is set to host the SEARIC Summit 2026 from 11 to 13 September 2026 at the Pegasus Reef Hotel, marking the first time the country will host the flagship regional gathering of the South East Asia Rotaract Information Centre (SEARIC).

Hosted by Rotaract in Rotary International District 3220 (RID 3220) – Sri Lanka & Maldives, the three-day summit is expected to bring together more than 500 delegates from six countries, creating a regional platform for leadership development, knowledge exchange, cultural understanding and collaboration among young leaders. The South-East Asia Rotaract Information Centre (SEARIC) serves as a regional platform connecting Rotaract districts across South East Asia. It facilitates collaboration, information exchange, cultural understanding and joint initiatives among Rotaractors across the region. The annual SEARIC Summit serves as the network’s flagship gathering, bringing together Rotaractors and Rotarians from participating countries for shared learning, fellowship, cultural exchange and collective growth.

Under the theme “The Role of Technology in the Future of Careers and Services,” SEARIC Summit Sri Lanka 2026 will explore the rapidly changing relationship between technology, careers, leadership and community service. As emerging technologies continue to transform industries and the way people work, the summit will provide a platform for young leaders to examine how technology can be used not only to prepare for the future of work, but also to strengthen the way communities are served. Across three days, delegates will participate in leadership and professional development sessions, discussions, cultural experiences, networking opportunities and community-focused programming, with the central theme reflected throughout the summit programme.

Beyond the Rotaract movement, the event also contributes to Sri Lanka’s broader positioning as a destination for international conferences, youth leadership programmes and regional collaboration. With hundreds of international delegates travelling to the country, the summit provides an opportunity to showcase Sri Lanka’s hospitality, culture and potential as a host destination for future international gatherings. The event further creates a platform for young leaders from across South East Asia to connect with Sri Lankan counterparts, exchange ideas and explore opportunities for cross-border collaboration.

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