By Ifham Nizam

President Anura Kumara Dissanayake along with top government officials yesterday engaged with World Bank Vice President Martin Raiser to discuss a wide-ranging financial and technical partnership aimed at propelling the island nation’s development initiatives.

The Island Financial Review reliably learns that the agenda included youth unemployment, launching the ambitious ‘Clean Sri Lanka’ initiative, tackling rural poverty and promoting digital transformation, with a focus on boosting Northern development.

The high-level talks, which took place in Colombo, were marked by a shared commitment to enhancing Sri Lanka’s economic resilience and advancing its socio-economic progress.

The meeting highlighted the importance of swift and efficient disbursement of funds for critical projects, and explored opportunities for new investments in areas, such as, education, energy and public transport, which are central to Sri Lanka’s long-term growth and sustainability.

One of the central issues discussed was youth unemployment, a growing challenge for Sri Lanka. With a large proportion of the population under the age of 30, there is a pressing need for effective initiatives that can offer young people meaningful employment opportunities.

In light of this, both the Sri Lankan government and the World Bank agreed on the importance of strengthening educational programs that align with labor market demands and provide young people with skills necessary for the 21st-century workforce. Further, the two parties committed to supporting vocational training and entrepreneurship programs aimed at addressing youth unemployment.

A significant part of the conversation also revolved around the ‘Clean Sri Lanka’ initiative, a government-led program aimed at improving waste management, promoting sustainable practices and reducing environmental pollution. With global concerns about climate change and sustainability, the World Bank agreed to lend both technical expertise and financial resources to help realize the goals of the ‘Clean Sri Lanka’ program. This collaboration will focus on waste recycling, green energy projects and the reduction of plastic waste, all aimed at fostering a cleaner, greener environment for future generations.

The meeting also focused the importance of rural poverty alleviation, especially in the Northern regions of the country. These areas, which were heavily affected by the prolonged civil conflict, continue to face developmental challenges. The World Bank reiterated its commitment to funding projects that address the infrastructure deficits, promote economic activities and improve the quality of life for rural communities. Both parties agreed on the importance of integrating digital technology into rural development efforts to bridge the urban-rural divide.

Sri Lanka’s digital transformation agenda was another area of emphasis during the talks. The World Bank expressed its support for expanding digital infrastructure, improving connectivity, and fostering an inclusive digital economy. By investing in high-speed internet, e-government services, and digital literacy, Sri Lanka aims to enhance its global competitiveness and provide greater opportunities for all sectors of society, especially in rural and underserved areas.

“We are committed to ensuring that Sri Lanka not only recovers from its past challenges but also embarks on a path of sustainable development for future generations,” stated Martin Raiser, Vice President of the World Bank for South Asia. “We will continue to work closely with Sri Lanka to implement projects that have a real, tangible impact on people’s lives.”

President Dissanayake expressed optimism about the outcomes of the meeting. “With the support of the World Bank, we will be able to accelerate key initiatives and address the most pressing challenges facing our nation. This partnership marks a new chapter in Sri Lanka’s journey towards sustainable development and prosperity, he said.

By Harischandra Gunaratna

The ADB firmly believed that a strong tourism sector is key to driving inclusive and sustainable economic growth in Sri Lanka. In this connection it must be said that homestays are more than just places to stay; they are windows to Sri Lanka’s vibrant culture, traditions and way of life, Country Director, Asian Development Bank, Takafumi Kodono said.

‘Our partnership with Sri Lanka spans decades, focusing on projects that empower communities, enhance livelihoods and promote sustainable development and among these efforts, the homestay accommodation sector has emerged as a vital area for our support, Kodono said.

The Country Director was addressing participants at the launch of Sri Lanka Tourism Development Authority’s E-Learning platform supported by the ADB, an initiative dedicated to improve standards of Sri Lanka’s homestays.

Extracts of Kodono’s address: ‘Homestays bridge the gap between tourists and local communities, creating meaningful experiences for travelers while generating income for families and uplifting rural economies. Yes, for the homestay sector to truly thrive, it needs resources, knowledge and capacity-building initiatives tailored to its unique challenges. This is where today’s e-learning platform steps in.

‘The creation of this platform marks a significant milestone and it’s a response to critical needs we identified during our work with Sri Lanka’s homestay operators: the need for accessible, practical and relevant training opportunities.

‘In an increasingly digital world, traditional methods of learning and skill development are no longer sufficient and the e-learning platform is designed to empower homestay operators by equipping them with the knowledge and tools to enhance their services, meet international standards and remain competitive in a dynamic market.

‘The platform is not merely a repository of information, it is a living, evolving resource. It offers training modules on a wide range of topics, including, the best practices in hospitality and guest services, digital marketing and online presence management, financial management and pricing strategies, hygiene and safety protocols, particularly in a post pandemic world and most importantly pandemic practices that align with global trends and eco-conscious travelers.

‘Importantly, this platform is accessible to anyone, anywhere and at any time. Whether a homestay operator is located in a bustling town or a remote village, they can access quality training at their convenience and this inclusivity ensures that even the smallest operators, who may lack access to traditional training opportunities, are not left behind.

‘The platform also integrates interactive features, such as, virtual simulations, gammification and quizzes to make learning engaging and practical. Moreover, it will host success stories from Sri Lanka and around the world, inspiring operators to adopt innovative practices and continuously improve their offerings.

‘The launch of this platform is the result of collaboration and partnership and I extend my gratitude to the SLTDA team, the ADB tourism team and the expert consultant whose collective efforts have brought this vision to life and is testament to what we can achieve when we work together towards a common goal.

‘By empowering homestay operators, we are empowering women, youth, and marginalized groups, who often form a significant portion of the workforce in this sector. This aligns with ADB’s broader commitment to inclusive growth and gender equality.’

Hayleys Fentons Limited achieved a remarkable milestone by winning two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2024, held on 3rd December 2024 at the Taj Samudra in Colombo. The company was recognised as one of the “Ten Best Integrated Reports” and the “Best Integrated Report” in the Construction Sector.

The 2023/2024 integrated report was recognised for its clear and comprehensive presentation of the company’s value creation journey. It effectively highlights how strategic initiatives and operational activities drive sustainable growth while addressing stakeholder interests.