WB reinforces support to Sri Lanka

Saturday, 26 March 2011 00:54 - - {{hitsCtrl.values.hits}}

World Bank said yesterday it was reinforcing support to Sri Lanka both financially and technically to convert challenges into opportunities in post-war era.

The expression of support had been conveyed by the World Bank Group Managing Director Dr. Mahmoud Mohieldin who was in Sri Lanka this week to get a first hand view of the country’s achievements, challenges and potential.

He was accompanied by Diarietou Gaye, World Bank’s Country Director for Sri Lanka, and a team of officials from Washington and the local country office.

A statement from the World Bank said: “He (Group MD) reaffirmed the World Bank’s commitment to support Sri Lanka, not only financially but in arranging opportunities to tap into the knowledge resources of the World Bank Group, as the country prepares to move from a low income to a middle income status.

Dr. Mohieldin met President Mahinda Rajapaksa, Economic Minister Basil Rajapaksa, Central Bank Governor Nivard Cabraal, Treasury Secretary P. B. Jayasundera, and other senior officials to discuss how the World Bank can support the government to realise the country’s ambitious development goals as articulated in the Mahinda Chintana. He discussed a new partnership approach of sharing ideas and knowledge that is based on the initiative of democratising development – a concept laid out by Robert Zoellick, President of the World Bank Group.

During his stay, Dr. Mohieldin visited hospitals and schools in Nuwara Eliya, a World Bank supported Water Supply and Sanitation Project, and held discussions with the local community. Visiting a tea plantation in Talawakele, the Managing Director acknowledged the impressive entrepreneurial talent in positioning Sri Lankan tea in the export market and the growing importance of corporate social responsibility adopted by Sri Lanka’s business sector. In Colombo, he had discussions with representatives of the private sector, NGOs and Think Tanks.

In his interactions with a cross section of people of Sri Lanka, he observed a sense of pride and passion in the country’s development vision laid out in the Mahinda Chintana.

“Sri Lanka’s continued progress towards upper middle income status is critically dependent on a productive and highly skilled labour force, which is contingent on modernising the education and health systems” said Mohieldin acknowledging Sri Lanka’s achievements in the education and health sectors.

“As it becomes a middle income country, Sri Lanka will face a new set of challenges, including ensuring very high quality education in computer and financial literacy and managing the demographic transition in a way that challenges are turned into opportunities, and maximising what the country benefits from the peace dividend,” Mohieldin said.

Dr. Mohieldin leads the World Bank’s knowledge development as represented through the Bank’s Networks on: Finance and Private Sector Development, Sustainable Development, Poverty Reduction and Economic Management, and Human Development, and the World Bank Institute.

Fourth Quarter GDP data release delayed

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