Business
ADB to help Sri Lanka realise its aspirations on climate investments
By Sanath Nanayakkare
The Asian Development Bank (ADB) launched a programme yesterday to support the government of Sri Lanka to prepare an integrated climate responsive investment portfolio comprising a pipeline of bankable green investment opportunities.
This was announced by Takafumi Kadono, ADB Country Director at an event hosted by the Bank at ITC Ratnadeepa Hotel in Colombo.
It turned out to be a historic workshop in Sri Lanka since the country signed the much touted Paris Agreement on Climate Action because it was a ‘programmatic session’ where local environment experts were subtly challenged to come up with home-grown green projects to attract local and foreign investors by presenting a convincing climate resilient economic narrative where investors would dare put their money in.
The ADB may have its own ideas for Sri Lanka in this regard with its regional experiences, but the Bank’s intention at the workshop was to find out whether the local experts also had valuable inputs to expand the investment scope with sectoral perspectives from fields such as Agriculture, Water, Energy, Transportation, Tourism etc.
In a nutshell, the forum focused on identifying full scale ready-to-invest projects for climate change adaptation and resilience building.
The following are some excerpts from the speech made by the Country Director of ADB.
“It is an honour to join you at the national inception workshop to launch the ADB regional technical assistances programme focused on “Sustaining Climate and Disaster Risk Resilient and Low Carbon Development in South Asia”.
Takafumi Kadono- Country Director ADB
“Sri Lanka is one of six countries supported by TA9700. This high-level gathering resonates deeply with my personal and professional values. This workshop is a critical platform to amplify public sector voices leading the combat against climate change, a planetary emergency we can no longer ignore. Climate change is regarded worldwide as an overarching development challenge. It can seriously affect economic growth, food security, public health, cultural heritage, social stability, migration, and even the national security of countries.
‘Sri Lanka is a negligible contributor to global warming. However, as a nation, we are highly vulnerable to the impacts of climate change, which include increases in the frequency and intensity of disasters uch as droughts, floods and landslides, variability and unpredictability of rainfall patterns, increase in temperature and heat stress; sea level rise, and salinity intrusion among others. Living and coping with uncertain impacts of climate change is no longer a choice; it is an imperative. Sri Lanka needs to address climate change adaptation to ensure that its economic development can continue without disruption or setbacks, so that investments in poverty reduction, food and water security, and public health will not be undone. Given the severity and the far-reaching impacts of climate change affecting every aspect of our lives and our nation, our response must be integrated, sustainable, just, and inclusive”.
“We share a common goal of securing the transition to net zero emissions and a climate-resilient future both of which are critical to sustainable development and economic growth. Responsive measures such as decarbonization, climate change adaptation, and resilience building are all essential; and achieving this transformation across the development sectors, requires horizontal cooperation among the stakeholders, development partners and strong public and private finance commitments. Sri Lanka now has a unique opportunity to rebuild from the pandemic and economic recession and secure a prosperous, inclusive, resilient, and sustainable future. We need strong commitment from the Government of Sri Lanka and unwavering cooperation among partners to make this happen. Sri Lanka can lead by example. ADB will fully support the Government of Sri Lanka through our sovereign and private sector operations, technical assistances, and knowledge partnerships.”
“This workshop is the beginning of an extensive consultation process to the views of a wide range of stakeholders on how we can develop an integrated climate responsive investment plan for Sri Lanka” , he said.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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