WB to fund $ 900 m up to 2012
Ramani KANGARAARACHCHI
|
Ajith Nivad Cabraal |
The World Bank will provide funding facilities to Sri Lanka up to USD
$ 900 million for the next four years as per the new Country Assisting
Strategy (CAS), prepared to support the Government's vision for economic
development.
These funds will be utilised on connectivity, infrastructure and
education. World Bank Country Director for Sri Lanka Naoko Ishii said.
The importance of macro-economic stability was insisted if foreign
investors were to find Sri Lanka attractive was emphasised at the World
Bank Strategy Workshop which focused on equitable growth,
competitiveness and accountable service delivery of the country.
The new strategy, prepared in broad consultation with Sri Lankan
communities ,will guide the development institutions work from 2009 to
2012. Its main strategic objectives are threefold. Firstly, to create
opportunities for equitable growth and economic development, specially
in lagging regions of the country.
Secondly to help Sri Lanka accelerate economic growth by fostering a
competitive investment climate and thirdly to help the country ensure
that service delivery is effective and accountable to citizen.
Ishii said the new CAS is being presented at a challenging time for
Sri Lanka, in circumstances that are significantly different from those
in 2003 when the last CAS was presented.
"However in light of this complex and challenging environment, it
will adopt a more focused approach to the areas of engagement and a more
flexible approach to the nature of the Bank's engagement in Sri Lanka,"
she said. |
