Business
Sri Lanka’s children paying the steepest price in the current crisis – UNICEF Regional Director for South Asia
By Hiran H. Senewiratne
The Sri Lankan economic crisis continues to rattle the country and it is the poorest, most vulnerable among its girls and boys who are paying the steepest price, UNICEF Regional Director for South Asia, George Laryea-Adjei said.
“Sri Lanka, a country normally known for its rapid economic growth and booming tourism, is experiencing its worst economic crisis since Independence in 1948. Families are skipping regular meals as staple foods become unaffordable, Laryea-Adjei said at a media conference held at Movenpick hotel, Colombo last Friday. The Regional Director was on a visit to Sri Lanka to study sectors impacted by the economic crisis.
Laryea-Adjei added: ‘Children are going to bed hungry, unsure of where their next meal will come from – in a country which already had South Asia’s second highest rate of severe acute malnutrition.
‘Almost half of children in Sri Lanka already require some form of emergency assistance. The education of 4.8 million children, already severely hampered by two years of interrupted learning, is at risk as school attendance continues to be jeopardized.
‘Children’s education is being hindered by the current crisis in many ways; children no longer get the warm and nutritious meals that they used to have before the crisis; they lack basic stationery and their teachers struggle with transportation issues.
‘Reports are already emerging of an increase in abuse, exploitation and violence against children due to the mounting economic pressures and adding to that, there are already over 10,000 children in institutional care in Sri Lanka, mainly as a result of poverty.
‘Such institutions are not the best place for a child to grow up in, as they lack the bond of a family. Unfortunately, the current crisis is pushing more and more families to take their children to these institutions as they cannot afford to provide for them, including feeding.
‘If the current trends continue, hard-earned progress for children in Sri Lanka is at risk of being reversed and in some cases, erased permanently.
‘UNICEF has been in Sri Lanka for over 50 years. With the support of partners, we are distributing educational supplies, providing meals to pre-school children and are channeling badly needed
cash transfers to pregnant and breastfeeding mothers.
‘But if the crisis persists, much more is needed and we need to support them.
‘Children need to be placed squarely at the heart of the solution as the country works to resolve the crisis. Continuity of learning must be ensured for girls and boys of all ages, so that they can prepare for their future and are shielded from the threats of child labour, exploitation and gender-based violence. Central and primary health services must be prioritized, to protect women and children against life-threatening diseases and malnutrition.
‘Acute economic precarity and inflation across South Asia are poised to further threaten the lives of children – in a region which was already home to one fifth of the world’s extreme poor and profound hardships and inequities impacting children’s health, learning and safety, and in a region which was severely impacted by COVID-19.
‘If we do not act now to protect children against the worst effects of the global economic downturn, the children of the world’s most populated region will be plunged further into poverty – and their health, nutrition, learning and safety will be compromised.
‘We cannot let children pay the price for crises not of their making. We must act today to secure their futures tomorrow.’
The Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, officially handed over the Financial Statements and Operations Report 2024 of the Central Bank of Sri Lanka to President Anura Kumara Disanayake at the Presidential Secretariat on Tuesday (29).
A copy of the report was also presented to Secretary to the President Dr. Nandika Sanath Kumanayake.
Several senior officials from the Central Bank were present at the occasion.
Business
HNB Investment Bank promotes Hayleys’ Rs. 7 billion debenture issue as Joint Placement Agent
Hayleys PLC, one of Sri Lanka’s foremost diversified conglomerates, has announced its plans to raise up to Rs. 7 billion through a debenture issue, marking one of the largest corporate debt offerings scheduled for Q2 2025. This strategic initiative has received in-principle approval from the Colombo Stock Exchange.
At the core of this transaction, HNB Investment Bank (HNBIB) plays a leading role as Joint Placement Agent to the issue, alongside Commercial Bank of Ceylon PLC. Renowned for its bespoke financial solutions and strong track record in capital market transactions, HNBIB’s involvement is pivotal to the success of this offering, reaffirming its expertise in structuring and placing sophisticated debt instruments, most recently demonstrated by way of being the exclusive manager for the country’s first-ever high-yield bond issuance earlier this year.
Hayleys’ initial tranche will offer 50 million listed, rated, unsecured, senior, redeemable five-year debentures priced at Rs. 100 each, aiming to raise Rs. 5 billion. In the event of oversubscription, the company retains the flexibility to issue an additional 20 million debentures, increasing the total potential value to Rs. 7 billion. The funds raised are intended to further optimize Hayleys’ capital structure, underlining the company’s forward-looking financial strategy.
The subscription list for the debentures will officially open on 5th May 2025.
Backed by a strong AAA (Lka) rating from Fitch Ratings Lanka Limited and senior status, the securities offer a compelling investment opportunity, combining stability with the potential for attractive returns.
As Hayleys PLC gears up for this significant fundraising exercise, the selection of HNB Investment Bank as a trusted partner, reinforces confidence in the success of the offering, once again highlighting its role in delivering value for issuers and investors alike.
Thai Airways celebrated the one-year anniversary of its resumed operations in Sri Lanka with a series of activities recently. This initiative, which aligns with the airline’s commitment to corporate social responsibility, was successfully held at TRACE City, Colombo 10, on April 4, 2025.
The celebrations culminated with a successful blood donation campaign which involved the community at large.
The campaign underscored Thai Airways’ dedication to the local Sri Lankan community and strengthened the historical and cultural ties between Thailand and Sri Lanka. Blood donation is considered a highly meritorious act in Buddhism, a faith deeply ingrained in both nations. This initiative reflected the shared values of compassion and generosity practised by people in Thailand and Sri Lanka alike.
Since resuming flights between Colombo and Bangkok on March 31, 2024, after a four-year Hiatus, Thai Airways has continuously aimed to enhance its presence in Sri Lanka beyond aviation services. The airline’s Royal Silk Business Class, introduced on March 2, 2025, has elevated the flying experience for passengers traveling between the two countries. With daily flights, passengers benefit from seamless connections to over 60 destinations across Asia, Australasia, the Middle East, Scandinavia, and Europe.
“It’s a great pleasure to be here today as the Sri Lankan Thai Airways team celebrates the first- year anniversary of resuming daily flights between Bangkok and Colombo. This milestone signifies the strong and enduring friendship between Thailand and Sri Lanka. We are thankful to the management of Thai Airways International for establishing this crucial air link. Our partnership has been invaluable. We are deeply honored to have with us today Ms. Prangthip Kongridhisuksakorn, the counsellor of the Royal Thai embassy.
‘Your presence underscores the importance of this occasion and the bond between our nations. Also extending our sincere gratitude to all our partner travel agents for their continued support. Adding to this exciting year, we were thrilled to open Business Class seats offering enhanced comfort and service to our passengers. And thank you once again to our Royal Thai embassy, Thai Airline personnel, travel agents and our dedicated staff for being a crucial part of our success. And thank you all for participating in this meaningful blood donation campaign. Your contribution today embodies the spirit of giving and strengthens the ties between our communities, said Andre Fernando, Managing Director, MAC Holdings Private Limited.
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