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World Bank’s IFC emphasizes private sector engagement in crisis-hit Lanka’s growth
ECONOMYNEXT –The International Finance Corporation (IFC), the World Bank’s investment arm emphasized the importance of the private sector engagement in the recovery of the crisis-hit Sri Lanka’s economic growth.
Riccardo Puliti, the IFC’s Vice President for Asia and the Pacific said this when he met State Finance Minister Shehan Semasinghe and the island nation’s Central Bank Governor Nandalal Weerasinghe on the sideline of IMF/World Bank Spring Meeting in Washington.
“Private sector engagement is key to boost Sri Lanka’s growth & pave the way for a resilient future,” Riccardo said in his X platform citing that the discussion was a “good exchange”.
The IFC last year pledged to provide Sri Lanka a $400 million cross-currency swap facility to Sri Lanka to help fund essential imports through three private banks.
Semasinghe thanked Riccardo for his “insightful perspective on the importance of private sector engagement for Sri Lanka’s growth and resilience”.
“We truly appreciate IFC’s commitment to our country, especially during these challenging times. Your continued investment and support are invaluable as we navigate through the economic landscape,” Semasinghe said.
President Ranil Wickremesinghe’s government has already chosen IFC to assist the overhaul of state-owned firms in accordance with an IMF programme to rein in losses from government-owned enterprises.
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Cabinet aporives recruitment of Nursing Instructors for Nursing Schools under the Ministry of Health and Mass Media on Contract Basis
There are 17 nursing schools under the Ministry of Health and Mass Media including the postgraduate primary nursing school.
There are 142 vacancies in the posts of Grade I / Special Grade Nursing Officer (Education) as on 31.03.2026 in those schools while 24 officers are to be promoted to the special grade on 31.12.2025 owing to the vacancies existing in the post of Special
Grade Nursing Officer (Education). Therefore, the number of vacancies is to be 166.
In addition, there are 24 vacancies in the post of Special Grade Nursing Officer (Education).
Although at present action has been taken to upgrade the nursing schools to nursing colleges and upgrade the nursing diploma course to nursing degree course, no action has been taken so far to carry out recruitment for the training relevant to the appointment for the post of Grade I / Special Grade Nursing Officer (Education).
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Health and Mass Media to recruit retired nursing instructors and nursing instructors who served in the nursing schools belonging to the three armed forces and are retired or have resigned legitimately from service to the post of Grade I / Special Grade Nursing Officer (Education) on contract basis.
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Signing agreement for the establishment of BIMSTEC Technology Transfer Facility in Sri Lanka
It has been decided to establish a BIMSTEC technology transfer facility in Sri Lanka by entering into a Host Country Agreement at the second leaders’ summit of BIMSTEC (Bay of Bengal
Initiative for Multi-Sectoral Technical and Economic Cooperation) held in New Delhi, India, in 2008, with the objective of enhancing regional cooperation.
The relevant cooperation agreement was signed by the member countries at the 5th BIMSTEC summit on 30-03-2022 in Colombo.
The prime objective of this technology transfer facility is to provide technology, capacity building, and management of intellectual property for the micro, small, and medium-scale
enterprises of the BIMSTEC member countries.
According to the cooperation agreement, an agreement should be entered into between Sri Lanka, as the host country, and BIMSTEC Secretariat for formalizing the legal status, privileges, and immunities of the technology transfer facility.
The drafted agreement has received the relevant institutional approval and legal clearance.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Science and Technology to sign the proposed agreement.
News
The cabinet approves agreement on mutual legal cooperation in criminal matters between the Republic of Sri Lanka and the Republic of Korea
Approval has been granted at the cabinet meeting held on 11-12-2023 to sign an agreement between the Republic of Korea and the Government of Sri Lanka regarding mutual cooperation
in criminal matters.
However, according to the aforementioned approval, the relevant agreement could not be signed between both parties.
Through this agreement, opportunities will be provided
for mutual assistance to other countries in handing over judicial documents and collecting evidence for the use of criminal case matters.
Accordingly, the Cabinet of Ministers has approved the resolution provided by the Minister of Justice and National Integration to sign an agreement between the Republic of Korea and the Government of Sri Lanka to cooperate in criminal matters.
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