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An agreement signed with the World Bank to uplift the livelihood of farmers

ITN News Editor
By ITN News Editor April 17, 2019 19:21

An agreement signed with the World Bank to uplift the livelihood of farmers

Minister of Finance Mangala Samaraweera is representing Sri Lanka at the UN Economic and Social Council Forum on Financing for Development convened by the President of ECOSOC, Inga Rhonda King, at the latter’s invitation.

Participating in the Ministerial Financial Dialogue Panel Discussion on ‘Promoting Inclusive Growth Reducing Inequalities’ on 15th April, the Minister explained about measures taken in Sri Lanka towards inclusive growth in Sri Lanka, including details of the ‘Enterprise Sri Lanka’ concessionary loan scheme which was launched in mid-2018 with the objective of creating 100,000 young entrepreneurs especially in the villages. Addressing the General Debate of the Forum, Minister Samaraweera explained some of the measures taken by Sri Lanka including in the 2019 budget to address identified challenges in sustainable and equitable development. Stating that financial commitments are increasingly challenging for countries like Sri Lanka that are subject to significant fiscal constraints, the Minister emphasized the need for international cooperation including for supporting measures to prevent and mitigate the debilitating impacts of climate change in vulnerable economies. The Minister urged for greater public-private partnerships and multi-stakeholder initiatives globally, to ensure the successful achievement of the Sustainable Development Goals so that no one is left behind.

Meanwhile, State Minister of Finance, Eran Wickramaratne, held wide-ranging talks in the US during a just concluded visit, the Foreign Ministry said today. During his visit, Minister Wickramaratne and delegation held discussions with a number of high ranking IMF and World Bank officials on fiscal and financial sector reforms, project financing and sustainable economic growth and stability. The delegation also signed project agreements with the World Bank for Public Private Partnership Framework Development and Climate Smart Irrigated Agriculture.

ITN News Editor
By ITN News Editor April 17, 2019 19:21