Sri Lanka (Commonwealth Union)_ World Bank representatives have praised Sri Lanka’s Development Policy Operational Program for its extraordinary progress in advancing its development goals. During a discussion at the Presidential Secretariat led by Mr. Sagala Ratnayake, Senior Adviser to the President on National Security and Chief of Presidential Staff, the representatives expressed their views on Sri Lanka’s recent progress. Sri Lanka’s Development Policy Operational Program was the subject of the final round of discussions with World Bank representatives.
During the meeting, the participants also discussed the subsequent steps necessary to complete Sri Lanka’s development policy operational pre-actions, including the establishment of the Parliamentary budget office, the revamping of state-owned enterprises, welfare benefit payment systems, and the social registry, as well as their respective timelines. Additionally, Mr. Sagala Ratnayake lauded the World Bank for its contribution towards Sri Lanka’s development policy operations and expressed hopes for everyone’s assistance in ensuring the success of the program.
Representatives of the World Bank, including Mrs. Chiyo Kanda, the Country Manager, and Dr. R.H.S. Samaratunga, the President’s Senior Adviser on Economic Affairs, and several other dignitaries were present during the event. Earlier, the World Bank pledged its full support to Sri Lanka’s development reform program, as the country was experiencing its worst-ever economic crisis. Accordingly, Martin Raiser, the Vice President of the World Bank responsible for the South Asia region, met with President Ranil Wickremesinghe and pledged to provide technical support in the drafting of laws for development policy operations, as well as additional guidance and essential support regarding the use of international media and welfare benefits.
According to the statement from the President Media Division (PMD), the World Bank Development Policy Operational Program was thoroughly investigated, and the President and World Bank representatives provided their perspectives on its progress. According to the PMD, “Improving financial supervision and credit management, improving tax administration, reducing sovereign-financial sector linkages and systemic risks, maintaining stability and confidence in the banking sector, restructuring and decentralization, reducing policy uncertainty and increasing the competitiveness of the economy, mobilizing private capital and competition in the broadband market, strengthening the social security institution, delivery system, and targeting were discussed at length”.
