Business
Ocean wealth without data: Sri Lanka’s Blue Economy faces a silent risk
By Ifham Nizam
Sri Lanka’s oceans generate millions of dollars annually through fisheries exports and whale watching tourism, positioning the island as a strategic player in the North Indian Ocean’s blue economy. Yet beneath this revenue stream lies a serious structural weakness: the absence of long-term, tangible scientific data to guide sustainable management.
“The single biggest bottleneck in Sri Lanka’s marine sector is the lack of consistent, long-term scientific research,” says Dr. Ranil Nanayakkara, Co-Founder and Principal Scientist of Biodiversity Education and Research (BEAR).
Speaking to The Island Financial Review, he said: “We are commercially exploiting marine resources, but we are not investing proportionately in understanding them.”
A decade ago, whale watching operators off Mirissa confidently guaranteed sightings of the majestic Blue whale, even offering refunds if tourists failed to see one. Today, such guarantees are no longer possible. Sightings in those waters have become increasingly rare, raising concerns not only among conservationists but also among tourism stakeholders who depend on the reliability of these experiences.
In place of Blue whales, researchers are now recording more frequent appearances of Bryde’s whale, a species that feeds on schooling fish rather than krill. The shift may signal deeper ecological changes linked to warming seas, overfishing, altered currents or prey depletion. The economic implications are clear: when flagship species decline or alter migratory patterns, tourism revenue becomes volatile.
“The ocean is not infinite,” Dr. Nanayakkara warns. “We behave as though fish stocks and marine mammals will always replenish themselves. But overfishing disrupts the food chain. When prey availability changes, larger migratory species respond.”
Sri Lanka’s fisheries sector plays a critical role in food security and export earnings. Yet overfishing, particularly of schooling fish, does not only threaten catch volumes but also impacts marine mammals that rely on the same prey base. Without accurate stock assessments and ecosystem-level monitoring, policymakers are navigating blind.
The case of Kalpitiya illustrates the shifting baseline. Until around 2021–2022, researchers documented one of the largest seasonal aggregations of Sperm whale in the eastern half of the Gulf of Mannar. Between mid-March and early April, pods numbering 300 to 400 individuals were observed, including mature males arriving from colder waters to breed.
Today, such large gatherings are rarely seen.
Public discourse often attributes marine disruptions to the 2021 maritime disaster involving the MV X-Press Pearl. While acknowledging localized environmental damage, Dr. Nanayakkara cautions against drawing sweeping conclusions without data.
“The ocean is vast. A spill may cause short-term, localised impacts. But long-term population shifts require long-term monitoring to understand causation.”
Ironically, Sri Lanka does possess institutional capacity. The National Aquatic Resources Research and Development Agency (NARA) operates an ocean-going research vessel and maintains scientific infrastructure. However, sustained offshore surveys and multidisciplinary research missions have been limited.
“We have assets. What we lack is sustained deployment and coordinated national strategy,” Dr. Nanayakkara notes. “Research is often dependent on personal funds, goodwill donors or small grants. That is not how you manage a national economic resource.”
The economic risks of neglect are mounting. International seafood markets increasingly demand sustainability assurances backed by verifiable data.
Business
World Bank puts USD 110m into climate-resilient road rebuilding
By Ifham Nizam
The World Bank has approved USD 110 million in additional financing to rebuild around 600 kilometres of roads damaged by Cyclone Ditwah, with the investment aimed not merely at restoring connectivity but at making critical transport infrastructure more resilient to future climate shocks.
The financing comes against a much larger recovery requirement for the transport sector, estimated at USD 1.31 billion, highlighting the scale of the infrastructure challenge following one of the most destructive weather disasters to hit the country in recent years.
The World Bank said the additional financing, provided through the International Development Association (IDA) Crisis Response Window, would support road reconstruction incorporating improved drainage, landslide protection and upgraded engineering standards.
‘Cyclone Ditwah has had a devastating impact on connectivity across Sri Lanka, but rebuilding also gives us an opportunity to build back stronger, said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives.
The World Bank said the programme would go beyond repairing damaged roads, helping reconnect farmers with markets, communities with essential services and households with economic opportunities.
The additional financing will extend the Inclusive Connectivity and Development Project (ICDP) by three years, taking total World Bank transport investment under the operation to USD 610 million.
The World Bank’s December 2025 GRADE assessment estimated Cyclone Ditwah had caused USD 4.1 billion in direct physical damage, equivalent to around four percent of GDP. Infrastructure accounted for approximately USD 1.735 billion, or 42% of the total, with roads, bridges, railways and water systems among the heavily affected assets.
The Bank has stressed that the USD 4.1 billion estimate measures direct physical damage and does not include income or production losses or the full cost of recovery and reconstruction.
The transport sector alone suffered extensive disruption, making the rebuilding of road networks a critical component of the broader economic recovery.
The latest USD 110 million package is expected to directly benefit more than 830,000 people, while nearly two million people across eight districts are expected to benefit from improved connectivity.
The programme is also expected to support employment during reconstruction and improve market access for approximately 22,000 tea, vegetable and paddy farmers.
The World Bank’s intervention therefore combines immediate disaster recovery with a longer-term infrastructure objective: ensuring that money spent on reconstruction does not simply restore roads to their pre-disaster condition but reduces their vulnerability to the next extreme-weather event.
That approach is becoming increasingly important as climate-related disasters place additional pressure on already constrained public finances.
Rebuilding the same infrastructure repeatedly after floods, landslides and other disasters carries a significant economic cost, making resilience an increasingly important part of infrastructure investment decisions.
Business
SLIC Life offers Rs.1million free life cover to parents of children born on World Children’s Day 2026
In celebration of World Children’s Day 2026, Sri Lanka Insurance Life (SLIC Life) has once again extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October 2026, across Sri Lanka. Now in its fifth consecutive year, the initiative was implemented island-wide, covering hospitals across the country and enabling parents of newborns to benefit from this special offering.
Beyond providing financial protection, the initiative seeks to highlight the importance of planning for a family’s financial security from the very beginning of a child’s life.
“The birth of a child marks the beginning of a new journey filled with hopes, dreams and aspirations. At SLIC Life, we believe that protection should begin from the very start of that journey. Through this initiative, we aim to create greater awareness of the importance of planning ahead and the role life insurance can play in safeguarding families against life’s uncertainties. As we continue this initiative for the fifth consecutive year, we remain committed to extending meaningful protection to Sri Lankan families and contributing towards a more secure future for the next generation,” said Dr. Sameera Dharmasena, Chief Executive Officer of SLIC Life.
Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) programme, the World Children’s Day initiative was introduced with the aim of supporting parents and strengthening financial security for families at an important stage in their lives. Over the years, the initiative has become a significant part of SLIC Life’s annual CSR calendar, reflecting the company’s broader commitment to children, families and communities.
SLIC Life’s commitment to children and education extends across several long standing CSR initiatives. The ‘Pasal Piriyatha Surakimu’ programme, launched in 2007, has benefited over 3,365 underprivileged schools through initiatives including classroom refurbishments, water facilities, libraries and learning resources. The 2026 edition of the programme is scheduled to be carried out in November, continuing SLIC Life’s efforts to enhance learning environments for children across the country. Complementing this, the ‘Suba Pathum Scholarship Programme’, which has been conducted since 2014, has now awarded 2,425 scholarships valued at Rs. 265 million to children of policyholders who demonstrate excellence in national examinations. The programme reflects SLIC Life’s continued focus on supporting educational aspirations and creating opportunities for the next generation.
Children remain at the heart of SLIC Life’s commitment to building a more secure future. Through the annual World Children’s Day initiative and its wider CSR programmes, SLIC Life continues to demonstrate that the value of insurance extends beyond financial protection, contributing to stronger and more resilient families and communities.
Business
HelpAge thanks donors for helping in carrying out free cataract surgery program
At a recent seminar HelpAge Sri Lanka (HASL) thanked local and foreign donors for strengthening the on-going free cataract surgeries program conducted by HelpAge Eye Hospital, Wellawatta for less- privileged elders over 55 years.
According to HelpAge Eye Hospital statistics the free cataract surgery programme was commenced in 2002 and over 55,000 surgeries have so far been performed for elderly citizens.
Head of HelpAge Eye Hospital Mahanama Wijesinghe said needy persons over 55 years of age could contact the hospital on telephone numbers 0112555759 and 0112589450 for free cataract surgeries.
‘Steps have been taken to conduct surgeries within a short duration of 30 days after attending the Eye Hospital clinic, he said.
Wijesinghe thanked all donors for their donations towards helping underprivileged citizens of the country.
HelpAge, Executive Director Dr. Harsha Bandara said HelpAge also conducts free medical and eye camps for needy elders and thanked donors for their donations towards this meritorious cause.
He requested philanthropists and donors to make their contributions for the sake of the needy.
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