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Rajeev Amarasuriya speaks at Kigali Global Dialogue 2023

Published

2 years ago

2023/07/2

Rajeev Amarasuriya Speaking at the Dialogue

Attorney Rajeev Amarasuriya joined the Plenary Session on “Managing Debt and Looking at alternatives in Development Finance” at the Third Kigali Global Dialogue 2023 held in Kigali, Rwanda co-hosted by the Observer Research Foundation, (ORF) America, and the Rwanda Governance Board.

“This year’s dialogue was an official outreach event of the G20 under India’s Presidency,” a news release on the event said.

The Kigali Global Dialogue brings together policymakers, academics, civil society, and the private sector from around the world to deliberate and devise solutions to critical sustainable development challenges facing the global community. The platform is unique because it brings together delegates and speakers from more than 70 countries, it amplifies perspectives from the across geographies.

Amarasuriya spoke on the vital role multilateral agencies play and the need for countries in financial distress to reach out to them early and that there was no room for experimenting in the present stressed and stretched Ecosystem.

When looking at avenues of alternate debt, he stated that low and middle Income countries in the global South were not seeing their full potential because some basics such as systems of good governance, accountability, being corruption free, consistent government policies, the ease of doing business are not adequately in place.

He also touched on the potential of diaspora funding and the need to build confidence in the diaspora to invest their monies in their motherland. In this respect, he proposed looking at the creation of independent agencies, either country specific or wider, to route diaspora funding, which would provide the necessary confidence to the diaspora.

Speaking in relation to debt, and some of the causes for the situation in Sri Lanka, he raised the issue of the need for lenders and borrowers to be more responsible. Whilst the multilateral agencies still follow the procedures and processes, he observed that there have been instances where bilateral and private lenders sometimes do not.

He mooted the proposition of developing an eco system where liability could also be imputed on the lender, and in this direction, proposed the formulation of international best practices for lending and borrowing by states and even an international convention in this respect. It was his view that such practice must incorporate the principle that if a lender had recklessly lent knowing the project will not generate the requisite return or was destined to fail, then that the lender was also culpable and was responsible to take part of the liability in a situation of debt distress.

He also flagged the concept of the responsibility of a nation towards the citizens of another nation, even within the lending eco space and drew relation to the Sustainable Development Goals and Resolutions of the United Nations General Assembly.

The other Members of the Panel included Kampeta Pitchette Sayinzoga, the CEO, Rwanda Development Bank, Gwendoline Abunaw, Managing Director, Ecobank Camaroon, Tetsushi Sonobe, Dean and CEO, Asian Development Bank Institute, Nagesh Kumar, Director Institute for Studies in Industrial Development (ISID) India and the Session was Moderated by Rachel Toku Appiah, Director Program Advocacy and Communications, Bill and Melinda Gates Foundation, Africa.

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Our government has reaffirmed its commitment to breaking barriers that limit women’s full participation in the economy, recognizing their vital role in national development. – Dr. Harini Amarasuriya

Published

3 hours ago

2025/03/15

Priyan

“Women play a pivotal role in Sri Lanka’s economic and social development. Yet, despite their immense contribution, structural barriers continue to limit their full participation in the economy. Our government is committed to breaking these barriers by fostering an inclusive economic environment where women can thrive as business leaders, entrepreneurs, and exporters.” Said Prime Minister Dr. Harini Amarasuriya

The Prime Minister made this statement while addressing the launching the She Trades Sri Lanka Hub funded by the UK’s She Trades Commonwealth+ Program held at Galle face Hotel in Colombo on March 14 organized by the Sri Lanka Export Development Board (EDB) and the International Trade Centre (ITC).

While addressing the audience, the Prime minister stated, the government has reaffirmed its commitment to breaking barriers that limit women’s full participation in the economy, recognizing their vital role in national development. Emphasizing gender-inclusive policies, financial inclusion, and access to global markets, authorities are prioritizing support for women-led businesses in key sectors such as ICT, agribusiness, and engineering.

A new initiative will establish 200 women-led cooperatives, fostering supportive environments for female entrepreneurs. Additionally, efforts to strengthen childcare, elderly care, and disability services aim to reduce the burdens that limit women’s economic participation.

A dedicated platform has been launched to provide women entrepreneurs with knowledge, networking, and international trade opportunities. Strengthening public-private partnerships and expanding global market access are key strategies to create an inclusive and sustainable trade ecosystem.

By equipping women with the necessary skills, financial resources, and digital trade access, the government aims to ensure that women entrepreneurs become key drivers of economic growth, aligning with broader policies for inclusive and sustainable development.

The event was attended by Ms. Pamela Coke-Hamilton, Executive Director of the International Trade Center, His Excellency Andrew Patrick, British High Commissioner to Sri Lanka, Officials from the International Trade Center and the British High Commission in Sri Lanka, Chairman of the Export Development Board Mr. Mangala Wijesinghe and Officials from Export Development Board and International Trade Centre and woman Entrepreneurs.

(Prime Minister’s Media Division)

News

Batalanda Commission report tabled … finally

Published

9 hours ago

2025/03/15

Thilina Walpola

by Saman Indrajith

TheBatalanda Presidential Co-mission report was tabled in Parliament yesterday (14) by the Leader of the House and Transport Minister, Bimal Ratnayake.

Minister Ratnayake announced that the government has decided to forward the report to the Attorney General for legal advice. Additionally, a Presidential Committee will be appointed to provide guidance and recommendations on how to proceed with the findings of the report.

Ratnayake said that the Cabinet-of-Ministers, along with President Anura Kumara Dissanayake, has made a policy decision to take necessary action in response to the report. He reassured the public that steps are being taken to ensure that such a dark chapter in the country’s history is never repeated.

Minister Ratnayake said that a two-day debate on the Batalanda Commission report will be scheduled in Parliament at an appropriate time, allowing for a detailed discussion on the report’s findings and recommendations.

The report, which will be printed in all three official languages—Sinhala, Tamil, and English—will be made available to the public in the near future. Ratnayake confirmed that printed copies would be provided to Members of Parliament, as well as the general public, for review.

The Leader of the House revealed that there are 28 evidence volumes associated with the Commission’s work, which will be submitted to Parliament at a later date for further scrutiny.

Ratnayake said that as the entire country is concerned about the findings of the Batalanda Commission, the government’s commitment to addressing the issues raised, and preventing future atrocities, stands clear. The next steps, including legal action and policy recommendations, will be shaped by expert advice and informed parliamentary discussions, he said.

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COPE finds fake documents submitted for emergency procurement of drugs

Published

9 hours ago

2025/03/15

Thilina Walpola

The Parliamentary watchdog Committee on Public Enterprises (COPE) has found that there were fake documents regarding the importing of medicines under the emergency procurement system in 2022 and 2023.

This was revealed during a COPE meeting held at Parliament probing the transactions of the National Medicine Regulatory Authority (NMRA).

NMRA CEO Saveen Semage told the Committee that several fake documents have been found due to the lack of registration of medicines.

Stating that six such fake documents were found last year alone, Saveen Semage said he had recorded statements regarding each of the documents with the Financial Crimes Investigation Division.

He revealed that, however, no investigations have been conducted yet into the incidents.

“We have documents with confessions from a woman accepting that fake documents had been made. However, a statement has not even been recorded from that woman yet,” he said.

Meanwhile, COPE member MP Asitha Niroshana Egoda Vithana also revealed that the highest number of waive-off registrations (WOR) for medicines had been obtained in 2022 and 2023.

He said 656 waive-off registrations (WOR) had been obtained in 2022 and 261 in 2023, adding that this proves that discrepancies have taken place during the emergency procurement of medicines during these periods.

Furthermore, Deputy Director General of the Medical Supplies Division of the Health Ministry, Dr. G. Wijesuriya, said discussions are underway on allowing the State Pharmaceutical Corporation (SPC) to directly import essential medicines.He pointed out that it was essential to take a policy decision in this regard as a solution to mitigate such discrepancies.