News
‘Towards Sri Lanka’s Recovery: Green Resilient and Inclusive Development’
Maldives, Nepal and Sri Lanka World Bank Country Director Mr. Faris H. Hadad-Zervos congratulated the government on securing the International Monetary Fund Extended Fund Facility, the parliamentary approval of the Domestic Debt Restructuring, and securing international financial support from the World Bank and the Asian Development Bank.
He made these observations while addressing the topic: ‘Towards Sri Lanka’s Recovery: Green Resilient and Inclusive Development’ at the Press Club Event hosted by the Sri Lanka Press Institute (SLPI) held at ‘The Blue’ of the Hilton Colombo on Tuesday, July 18, 2023.
The event commenced with the welcome address delivered by Senior Board Member of the SLPI Mr. Manik De Silva. The event was moderated by Business Editor of The Sunday Times, Mr. Feizal Samath.
During his speech Hadad- Zervos stated that the government has committed to an ambitious reform agenda and implemented some difficult and necessary reforms, including tax reforms, cost-reflective utility pricing, a stronger social safety net, and debt restructuring to stabilize the economy.
He stated that there have been some signs of stability in the past few months compared to 2022. Inflation is trending downwards from 69.8% in September 2022 to 12% in June 2023. Market interest rates are also declining as the uncertainty over domestic debt restructuring wanes and the foreign exchange liquidity picture has also improved.
Hadad- Zervos said, “We estimate that poverty doubled from 13.1 to 25 percent between 2021 and 2022—an addition of 2.5 million poor people—and we expect this to increase by another 2.4 percent in 2023. Many more people are just one shock away from poverty. We estimate that 5.7 percent of the population lives less than 10 percent above the poverty line, and a further 5.6 percent between 10 and 20 percent above the poverty line. This dramatic increase in poverty and vulnerability has wiped-out decades-long human capital gains. For example, there is now a serious learning crisis in the country. Only 14% of Grade 3 students have acquired minimum competency in literacy and only 15% in numeracy”
He stated that the World Bank Group’s new Country Partnership Framework and US$700 million financing support through the RESET DPO and the Social Protection project is our commitment to the Sri Lankan people at this difficult time. In response to both COVID-19 and the economic crisis, the World Bank repurposed significant undisbursed funds from its existing portfolio to sustain institutions so they could continue to provide essential goods and services, protect the vulnerable, support livelihoods, and address food insecurity.
The PRESS CLUB is envisaged to be a place where media-related events concerning visiting dignitaries and local personalities on current topics of national and international interest take place. The Press Club functions under the SLPI whose constituent partners are the Newspaper Society of Sri Lanka (NSSL), The Editors’ Guild of Sri Lanka (TEGOSL), the Free Media Movement (FMM), the Sri Lanka Working Journalists Association (SLWJA) with its affiliated partners Federation of Media Employees Trade Union (FMETU), Sri Lanka Muslim Media Forum (MMF), Tamil Media Alliance (TMA), and South Asia Free Media Association (SAFMA).
The event was attended by journalists, diplomats and experts.
Business
Prime Minister Holds Bilateral Meetings with ADB Leadership and Participates in education policy dialogue in Manila
Prime Minister Dr. Harini Amarasuriya held a series of bilateral meetings with senior officials of the Asian Development Bank (ADB) on 10 March at the ADB Headquarters in Manila, during her official visit to the Philippines. The discussions focused on strengthening development cooperation between Sri Lanka and the ADB, reviewing ongoing projects, and exploring opportunities for future collaboration.
The Prime Minister first met with ADB President Masato Kanda. During the meeting, both sides reaffirmed the strong partnership between Sri Lanka and the Asian Development Bank. President Kanda welcomed the Prime Minister’s visit and commended Sri Lanka’s efforts to stabilise the economy and advance recovery following the recent economic crisis.
Prime Minister Amarasuriya expressed Sri Lanka’s appreciation for the continued support extended by ADB, including assistance provided in response to the impacts of Cyclone Ditwah and the Bank’s broader development cooperation with the country. She highlighted the importance of ADB-supported initiatives across key sectors that contribute to Sri Lanka’s ongoing recovery and long-term development.
The Prime Minister also held discussions with Yingming Yang, Vice President (South, Central and West Asia) of ADB, where both sides reviewed the progress of ongoing ADB-funded projects in Sri Lanka and explored opportunities to further strengthen collaboration in areas such as health, education, and social development.
In a separate meeting with Christine Engstrom, Director General of Sectors Department 3, discussions focused on sector-specific initiatives supported by ADB, particularly in human and social development, public sector management, and financial sector reforms. The Prime Minister noted that future investments in the education sector should place greater emphasis on human resource development and improving the quality of teaching and learning, alongside infrastructure development.
Following these meetings, the Prime Minister participated in a Policy Dialogue on Education and Skills Development, which brought together representatives from ASEAN institutions, Philippine education authorities, and ADB officials. The dialogue focused on regional education systems, policy collaboration, and initiatives aimed at strengthening education and skills development frameworks.
During the discussion, the Prime Minister highlighted the importance of expanding education cooperation between Sri Lanka and the Philippines, particularly in areas of policy exchange and institutional collaboration. Participants also discussed the development of the Technical and Vocational Education and Training (TVET) sector and explored opportunities to strengthen skills development frameworks to better align with emerging economic demands.
The engagements in Manila reaffirmed the shared commitment between Sri Lanka, the Asian Development Bank, and regional partners to deepen cooperation in advancing sustainable development, strengthening education systems, and promoting inclusive economic growth.

(Prime Minister’s Media Division)
News
Prime Minister highlights the importance of recognising Women’s Unpaid Care Work
Prime Minister Dr Harini Amarasuriya participated in the International Women’s Day Flagship Event hosted by the Asian Development Bank (ADB) on 10 March at the ADB Headquarters in Manila, Philippines. The event brought together senior ADB leadership, representatives of the diplomatic community, and development partners to mark International Women’s Day and to reaffirm global commitments to gender equality.
Delivering the keynote address, the Prime Minister highlighted the critical role of education in empowering women and girls, emphasising that equitable access to quality education remains one of the most powerful tools for achieving social and economic transformation. She underscored Sri Lanka’s longstanding commitment to education and noted the importance of strengthening inclusive learning systems that enable women to fully participate in national development.
The Prime Minister also drew attention to the significant contribution of women’s unpaid care work, noting that it remains largely unrecognised despite its vital role in sustaining families, communities, and national economies. She emphasised the need for policies and social protection mechanisms that acknowledge and support care work, thereby enabling women to participate more fully in economic life.
Addressing broader structural challenges, the Prime Minister stressed the importance of increasing women’s participation in political decision-making and the labour force, noting that inclusive governance and economic participation are essential for sustainable and equitable development.
She highlighted the need for continued collaboration between governments, international institutions, and development partners to remove barriers that limit women’s opportunities.
During the event, Prime Minister was honoured with the Shireen Lateef Women’s Leadership Award in recognition of her commitment to advancing women’s leadership and empowerment.
The event was opened by the President of the Asian Development Bank and senior ADB leadership, followed by a high-level discussion on advancing gender equality across the region. The Prime Minister’s participation reaffirmed Sri Lanka’s commitment to strengthening partnerships with international institutions to promote women’s empowerment and gender-responsive development policies.
(Prime Minister’s Media Division)
News
CEBEU warns of operational disruptions amid uncertainty over CEB restructuring
The Ceylon Electricity Board Engineers’ Union (CEBEU) yesterday warned that uncertainty surrounding the ongoing restructuring of the Ceylon Electricity Board (CEB) had forced many employees to refrain from performing their regular duties, raising concerns about potential disruptions to electricity sector operations.
The engineers’ union said the current situation had arisen due to what it described as either deliberate actions or extreme negligence in implementing the restructuring process, which has created significant confusion among staff who previously served under the CEB.
According to the union, although the state power utility has been formally restructured and new companies established, a large majority of former CEB employees have yet to receive official appointment letters, confirming their positions in the newly formed entities.
“The reality is that the institution, previously known as the Ceylon Electricity Board, no longer exists in its earlier form, yet most employees, who served under it, have not been issued proper appointment letters, or related documentation, assigning them to the newly established companies,” the CEBEU said.
The union said that while some workers had been issued “assignation letters”, those documents merely indicate the institution to which an employee has been attached and do not clearly define employment conditions, responsibilities, authority, or reporting structures.
“As a result, employees currently lack the necessary legal framework confirming their employment status, their duties, the authority under which they operate, and who they are accountable to within the new institutions,” the CEBEU said.
The engineers’ union emphasised that the current crisis was not created by employees but was the direct result of, what it called, shortsighted and questionable actions taken by those responsible for implementing the reforms.
It also expressed concern that the relevant Minister, appointed through the National List, had failed to hold meaningful discussions with employees, despite having previously advocated strongly for workers’ rights.
The union said trade union action had been launched only after months of unsuccessful attempts to resolve the issues through verbal requests and written communication with the authorities.
“Despite repeated appeals made over several months, there has been no satisfactory response. Decisions appear to have been taken under the assumption that a government with a strong mandate can proceed without proper consultation,” the union said.
However, the CEBEU stressed that employees engaged in essential operations—including power generation, transmission, and distribution—continue to work in order to ensure electricity supply to the public.
“These staff members are continuing their duties under considerable risk to prevent major disruptions to the electricity supply,” the union noted.
Nevertheless, the union warned that the prevailing uncertainty could affect certain operational activities, and restoration work following breakdowns may take longer than usual.
The CEBEU appealed to the public to understand the situation and expressed regret for any inconvenience that may arise.
“We request the public to understand the situation and cooperate with us during this difficult period. We sincerely regret any inconvenience that may be caused,” the union added.
By Ifham Nizam
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