Home / Front Page/ ‘Designer Budget’ will focus on start-up culture of ‘empowering the private sector’ 

‘Designer Budget’ will focus on start-up culture of ‘empowering the private sector’ 

Comments / {{hitsCtrl.values.hits}} Views / Friday, 13 October 2017 00:00


  • Mangala Samaraweera assures World Bank private sector investment arm IFC’s Director


Minister of Finance and Media Mangala Samaraweera met the Director for South Asia of the International Finance Corporation (IFC) of the World Bank, Mengistu Alemayehu, in Washington, on 11 October on the sidelines of the Annual Meeting of the International Monetary Fund/World Bank. Wide-ranging discussions focused on ways and means of enhancing mutual cooperation to promote private sector contribution for the economic development of Sri Lanka.

Samaraweera commended the cooperation extended by the IFC towards promoting the private sector contribution for the development of the country’s economy at a time where the government has accorded high priority to private sector involvement in the economy by way of Public-Private Partnerships.

Samaraweera, who is scheduled to present his maiden budget next month as the Minister of Finance, said that the Budget was aimed at creating a robust, flourishing and modern economy and would focus on a start-up culture of “empowering the private sector”. 

Following extensive deliberations with Minister Samaraweera and his delegation, IFC Director Alemayehu stated that the IFC would support infrastructure development, eco-tourism and affordable housing initiatives in Sri Lanka. 

IFC is the private sector arm of the World Bank Group, has its focus on the private sector operating in more than 100 developing countries and applies lessons learned in one region to solve problems in another. Sri Lanka has been a member of the IFC since its inception in 1956 and it has so far committed over $ 1.3 billion in Sri Lanka.

IFC’s committed portfolio in Sri Lanka covers projects across a range of sectors, including infrastructure, tourism, renewable energy, finance, and healthcare. IFC also provides advisory services to promote sustainable growth among small and medium enterprises by facilitating access to finance and by offering capacity-building and training opportunities.

The Sri Lankan delegation included Deputy Minister Dr. Harsha de Silva, Finance Ministry Senior Advisor Mano Tittawella, Deputy Secretary to the Treasury S.R. Attygalle, Additional Director General Ajith Abeysekara and External Resources Department Director Hemantha Pubudusiri. 

Alemayehu was accompanied by WB Country Director for Sri Lanka and Maldives Idah Pswarayi-Riddihough and IFC Country Manager for Sri Lanka and Maldives Amena Arif.


Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

2018 could see the birth of a new religion in India, Lingayatism

Saturday, 24 March 2018

The year 2018 is likely to see the birth (or official recognition) of a new religion in India, adding to the six already in existence and recognised by law. It is Lingayatism, found mostly in the South Indian States and Maharashtra.

No Confidence motion – A desperate attempt against PM will be defeated

Saturday, 24 March 2018

Ranil Wickremesinghe, the most popular Prime Minister, has made fellow politicians nervous if he is allowed to continue.

Mr. Elections Commissioner, play with a straight bat please

Saturday, 24 March 2018

The orange embers still burning. The once-busy extraordinarily-long orange drapes washed and put on sagging lines as far as eyes can see. Scattered stones and boulders cleared and removed by the municipalities.

The no-confidence motion against Ranil will create further chaos

Friday, 23 March 2018

The Mahinda Rajapaksa-backed Joint Opposition yesterday submitted a no-confidence motion against Prime Minister Ranil Wickremesinghe

Columnists More