Thursday Feb 19, 2026
Thursday Feb 19, 2026
Wednesday, 18 February 2026 00:02 - - {{hitsCtrl.values.hits}}
|
Foreign Minister Vijitha Herath |
The Cabinet of Ministers at their meeting on Monday approved the proposal to obtain Special Drawing Rights (SDR) financing equivalent to $ 50 million from the World Bank Group to implement the Sri Lanka Digital Transformation Project under the Digital Economy Strategy (2025–2030).
The project is a national policy priority aimed at modernising public service delivery through digital platforms to enhance efficiency, transparency and accessibility.
Cabinet approval to seek international development partner support for the initiative was initially granted on 21 October 2025, following which loan negotiations were conducted between the Government of Sri Lanka and the World Bank Group. “Those discussions have now been successfully concluded,” Foreign Minister Vijitha Herath said at the weekly post-Cabinet meeting media briefing yesterday.
Under the agreed framework, the Finance, Planning and Economic Development Ministry will act as the borrower on behalf of the Government. GovTech Sri Lanka Ltd., has been designated as the implementing agency, while the Digital Economy Ministry will oversee policy supervision and coordinate across Ministries.
“The digital transformation project is expected to strengthen the country’s digital public infrastructure, streamline Government processes and support the broader goal of building a competitive, technology-driven economy over the medium-term,” he added.
The financing will be secured in accordance with the financial terms and conditions recommended by the Public Debt Management Office under the Public Debt Management Act No. 33 of 2024.
The proposal to obtain the facility was presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development and received Cabinet approval.
