Business
Promoting inclusivity and sustainability across Sri Lanka’s textile and apparel sector
Improving Transparency for Sustainable Business (ITSB)- a transformative initiative for the Textile and Apparel Sector, jointly led by the Global Reporting Initiative (GRI), the Sustainable Development Council (SDC), and the Joint Apparel Association Forum (JAAF) in Sri Lanka with support from the Swedish Government was launched virtually on 29th April 2025.
In 2024, Sri Lanka’s apparel sector generated $5.05 billion in export revenue, reaffirming its position as a key driver of the national economy. The sector is now targeting US$8 billion in export earnings for 2025, a significant increase from the previous year. Contributing 42.01% of the country’s total export revenue, the sector plays a critical role in sustaining foreign exchange earnings. The industry also supports around 350,000 direct jobs, making it a vital source of employment, particularly for women in rural areas. Despite the economic impact, the fashion industry is also one of the largest polluters and has come under increasing scrutiny. More than 75% of clothes and other textiles end their life being incinerated or landfilled.
Looking ahead, Sri Lanka is strategically focused on expanding its global market share in apparel exports and driving industrial growth, underscoring the sector’s importance to the country’s economic development. However, the path forward is not without challenges, as the sector must build resilience to face various external as well as internal challenges such as trade barriers and tariffs, compliance with higher social and environmental safeguards, overreliance on a few export markets, currency fluctuations, high production costs, outmigration of labor from the sector etc.
As the apparel and textile sector remains the country’s largest contributor to export revenue, the ITSB initiative aims to enhance environmental and social transparency across the industry, ensuring long-term resilience, profitability, and global leadership of the sector.
The launch webinar marked the beginning of a series of capacity-building initiatives aimed at strengthening impact measurement and reporting of industry stakeholders on sector-relevant topics such as climate change, circularity, waste, and biodiversity, while also enhancing transparency on labor, economic, and tax-related impacts to unlock the true potential of ESG data. As part of its rollout, the ITSB initiative will include targeted capacity-building sessions for 100 apparel and textile companies, encompassing both Multinational Enterprises (MNEs) and Small and Medium Enterprises (SMEs).With global markets increasingly demanding traceable, eco-conscious products, Sri Lanka’s commitment to sustainability through ITSB is poised to bolster the country’s reputation as a responsible apparel manufacturing hub.
The event featured presentations and speeches by the key personals representing the GRI, SDC, JAAF etc emphasizing the need for sustainability and traceability in the apparel sector, particularly in the face of global environmental challenges and shifting consumer expectations.
The Director General of SDC, Ms. Chamindry Saparamadu, delivered a presentation on SDCs approach to promoting inclusive and sustainable businesses to achieve the Sustainable Development Goals (SDGs) in Sri Lanka focused on targeted capacity-building activities and the potential benefits for apparel sector in transitioning towards inclusive and sustainable apparel given the significant market opportunities for sustainable apparel. The global market for sustainable textiles is evolving to reach nearly USD 69.5 Billion by 2030; sustainable fashion creates business opportunities in ethical sourcing, circular design, innovative materials, education, technology integration and compliance.
Speaking at the event, Yohan Lawrence, Secretary General of JAAF presented an overview of Sri Lanka’s apparel industry, the current reporting frameworks adopted in the sector, existing challenges, and the importance of ESG reporting.
Dr. Aditi Haldar, Director of GRI South Asia, introduced GRI and the ITSB program, which has prioritized only three countries in South Asia: Sri Lanka, India, and Bangladesh, with the aim of promoting sustainability, improving labor conditions in the supply chain, and leveraging economic impact for better social outcomes.
Delivering the closing remarks, Sumith Siriwardana, Assistant General Manager–Group ESG, Courtaulds Trading Company, emphasized that the partnership between GRI, SDC, and JAAF exemplifies how multi-stakeholder collaboration can drive meaningful change—aligning Sri Lanka’s textile sector with global sustainability standards while promoting inclusive growth.
The event was attended by more than 100 participants representing MNEs, SMEs, Informal Worker Associations, Industry Associations, Regulators and Policymakers, and International Stakeholders and other Data Users.
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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