WB official praises Lanka's post-war development strategies

Economic Development Minister Basil Rajapaksa with Executive Vice President of the International Finance Corporation affiliated to the World Bank Lars Henrik Thaunell. Picture by Thushita Chandrakumara

Executive vice president of the International Finance Corporation (IFC) affiliated to the World Bank Lars Henrik Thaunell praised the economic development strategies adopted by Sri Lanka during the post conflict period when he met Economic

Development Minister Basil Rajapaksa for discussions at the Kotte Parliamentary Complex on Tuesday.

Thaunell who discussed the steps taken by Sri Lanka as regards its future development activities, including the promotion of private sector investments with the minister, also promised assistance towards Sri Lanka in its future efforts in this direction, a press release issued by the Economic Development Ministry said yesterday.

The release said IFC along with the World Bank contributes towards President Mahinda Rajapaksa's poverty eradication programme. It provided assistance towards increasing private sector investment, promoting balanced economic development through rural development and post conflict development including the development of small and medium scale industries.

The IFC can be described as an arm of the World Bank which deals with the private sector. Thaunell's delegation also include IFC director (South East Asian region) Thomas S Davenport and other officials.