Business

ADB champions innovative financing and strategic partnerships to protect Sri Lanka’s water tower

Published

4 weeks ago

2026/08/17

Sahan Weerasooriya

ADB Country Director for Sri Lanka Shannon Cowlin // Dr. Rohan Pethiyagoda

By Sanath Nanayakkare

Sri Lanka’s central and upper watershed areas – frequently described as the nation’s water tower – face escalating pressures from decades of deforestation, soil erosion, and unsustainable land use. Serving as the source for over 100 main rivers and more than 1,000 feeder streams, these critical landscapes sustain water security, agricultural productivity, hydropower generation, and biodiversity. However, extreme weather events have exposed deep vulnerabilities, underscored by Cyclone Ditwah, which destroyed 34 percent of sensitive natural forest cover in the Central Highlands and inflicted damages estimated at 4.1 billion US dollars, equivalent to nearly 4 percent of the country’s GDP.

These pressing challenges took center stage on August 13 in Colombo, where the Asian Development Bank (ADB) hosted its latest Serendipity Knowledge Programme (SKOP) under the theme Investing in Sri Lanka’s Upper Watersheds: Unlocking Financial Capital for a Resilient Future.

Opening the event, ADB Country Director for Sri Lanka Shannon Cowlin emphasised that healthy watersheds must be recognised as strategic economic assets rather than passive environmental features. Pointing to the growing global shift toward viewing nature as productive infrastructure, Cowlin noted that innovative frameworks like blended finance, watershed funds, and payments for ecosystem services are essential to mobilise resources at a scale traditional project financing cannot achieve.

Highlighting the institutional steps already underway, Cowlin and event speakers noted that the Sri Lankan Cabinet has approved the establishment of a dedicated Upper Watershed Area Management Authority, alongside discussions surrounding a Climate Action and Nature-Positive Investment Fund (CANOPY Fund). To strengthen the evidence base for these initiatives, the ADB has commissioned two complementary studies: a hydrological assessment by the International Water Management Institute (IWMI) and an economic valuation study examining the true value of water and ecosystem services.

Delivering the keynote address, eminent biodiversity scientist Dr. Rohan Pethiyagoda provided critical scientific perspective on the root causes of highland degradation, distinguishing between natural geological processes and human-accelerated damage. Dr. Pethiyagoda addressed common misconceptions regarding the tea industry’s footprint in the region, explaining that tea plants themselves are not inherently harmful to soil stability. Instead, he pointed to the systemic neglect of tea lands under shifting administrative oversight, combined with a historical transition from deep-rooted seedling tea to shallower-rooted vegetatively propagated varieties, as factors heightening soil vulnerability.

To ensure the success of the newly proposed Upper Watershed Management Authority, Dr. Pethiyagoda stressed that Regional Plantation Companies (RPCs) must be treated as strategic partners rather than merely regulated entities. Drawing on the extensive management capacity, labor force, and infrastructure of Sri Lanka’s 20 RPCs can bridge gaps that government agencies cannot tackle alone. He suggested reviving the spirit of collaborative stewardship seen in Sri Lanka’s 1937 Fauna and Flora Protection Ordinance, which empowered non-government actors to serve as active conservation partners.

Ultimately, participants at the SKOP forum agreed that safeguarding Sri Lanka’s upper watersheds requires moving beyond adversarial regulation toward a unified framework. By blending robust institutional authority, scientific insights from institutions like the University of Peradeniya, and private sector capabilities, Sri Lanka can successfully transform its natural capital into a lasting foundation for national resilience and long-term economic prosperity.

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Business

Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment

Published

10 hours ago

2026/09/14

Thilina Walpola

The exchange of the MoU between the two organisations

By Sanath Nanayakkare

In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.

The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.

A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.

Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.

With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.

To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.

Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.

Business

Hettich celebrates a decade in Sri Lanka with partner meet in Colombo

Published

10 hours ago

2026/09/14

Thilina Walpola

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality

Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.

The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.

The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.

Business

GS Evo Motors launches all-new JMEV EWIND

Published

10 hours ago

2026/09/14

Thilina Walpola

Priyantha Perera, Chief Executive Officer of GS Evo Motors (left), and Sunil Wettasinghe, Chairman of GS Evo Motors, introducing the latest JMEV Ewind Electric SUV to the local market

GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.

The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.

The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.