Youth expect jobs that build lives, not just livelihoods from World Bank CPF 2026-2030

University of Colombo Economic Students’ Association President Batya Peter - Pic by Sameera Wijesinghe 

• Young economics graduate Batya Peter says development must be judged by whether it enables young people to build meaningful lives in Sri Lanka
• Highlights quality jobs, skills mismatch, weak entrepreneurship culture and limited youth participation in policymaking as key concerns
• Calls for stronger links between universities and industry, greater support for innovation and more inclusive access to opportunities
• World Bank says youth aspirations will be a priority under new Country Partnership Framework, with private sector participation critical to success

Sri Lanka’s next phase of development should be measured not merely by economic indicators but by whether it creates opportunities for young people to build fulfilling lives in the country, University of Colombo Economic Students’ Association President Batya Peter said, offering a candid assessment of the aspirations and anxieties shaping a generation entering the workforce.

Speaking at the launch of the World Bank Group’s Sri Lanka Country Partnership Framework (CPF) 2026-2030 on Monday, Peter argued that employment, from a youth perspective, extends beyond earning an income and is inseparable from broader questions about long-term economic security and quality of life. Her perspectives were a curation of ideas and views shared by Colombo University students who engaged in extensive breakout sessions prior to the official public launch of the CPF.

“Ultimately, what I’m trying to say is that this partnership framework shouldn’t just be about increasing the number. It’s about creating opportunities so that people can build the lives that they value in the country that they call home. So I really hope that that remains at the heart of the vision of the Country Partnership Framework,” she said. 

Her remarks offered policymakers, development partners and business leaders a window into how younger Sri Lankans are evaluating the country’s economic recovery and weighing decisions about whether to remain in the country or seek opportunities overseas.

Having recently completed her degree at the University of Toronto, Peter said many graduates view employment decisions through a broader lens than previous generations.

“For many young people, getting a job is much more than just earning a salary,” she said. “If you choose to work here, it means that you’re choosing to build a life here.” 

She said questions around independent living, supporting ageing parents, home ownership and raising a family increasingly shape career choices and migration decisions.

Peter acknowledged that Sri Lanka had made significant progress in restoring macroeconomic stability since the 2022 crisis but cautioned that recovery remained fragile amid external shocks, climate risks and a rapidly changing global economy.

“For young people like myself, stability is the foundation,” she said, noting that confidence in institutions, economic resilience and future opportunities was essential if young people were to envision long-term futures in Sri Lanka. 

A recurring theme in her presentation was that the debate on development should move beyond the quantity of jobs created towards the quality of employment opportunities available.

“The challenge then is not only do we have enough jobs. It’s whether these jobs offer fair wages, opportunities for growth, and whether they align with our skills and aspirations,” she said. 

Peter identified several structural gaps that continue to constrain youth employment prospects.

Foremost among them was what she described as an “opportunity gap”, characterised by an insufficient supply of quality private sector jobs. While the public sector had historically served as a major employer, she argued that sustainable job creation would increasingly depend on private enterprise. 

She also pointed to a persistent skills mismatch between university education and industry requirements, particularly affecting graduates from public higher education institutions who often complete lengthy academic programs with limited workplace exposure.

According to Peter, many graduates enter the labour market only to discover that the competencies sought by employers differ substantially from those acquired through formal education. She suggested greater collaboration between universities and industry, including curriculum development, internships and research partnerships, to bridge the gap. 

Another challenge was an information deficit, with students often unaware of emerging career pathways and specialised opportunities beyond traditional professions.

“There are a lot of niche areas within our sectors, and we’re just not aware of those jobs,” she said, arguing that better visibility of opportunities could improve matching between skills and labour market demand. 

Peter also highlighted concerns around job quality, including fair compensation, career progression, continuous learning opportunities, work-life balance and a sense of purpose in employment.

She noted that labour market barriers disproportionately affect women, citing low female labour force participation, inadequate childcare facilities and transport constraints as factors limiting workforce participation.

The presentation further underscored the need to foster a stronger culture of entrepreneurship and innovation. Peter said many young Sri Lankans remain highly risk-averse despite the growing opportunities created by digital technologies and changing business models.

She called for programs that reward innovation, expand access to mentorship and financing, and create a more supportive ecosystem for entrepreneurship. 

Beyond labour market reforms, Peter urged policymakers to involve youth directly in the design and implementation of development initiatives.

“Too often, decisions that affect youth are done by a few people behind closed doors,” she said, arguing that youth participation would improve policy outcomes while fostering greater ownership of reform efforts. 

She advocated moving young people from being passive beneficiaries of development programs to active contributors and co-creators of solutions.

Earlier, the World Bank Group Country Manager for Sri Lanka, Gevorg Sargsyan, said the CPF’s success would depend heavily on private sector participation and pledged that addressing youth aspirations would remain a central priority.

“We are making it our priority,” Sargsyan said, responding to concerns raised by students regarding employment and future opportunities.

(CPF) 2026-2030 aims to help sustain Sri Lanka’s economic recovery by supporting the Government’s goal of achieving more than 7% medium-term growth while creating quality private sector-led jobs. 

Backed by up to $ 2 billion in financing and investments, the framework focuses on improving the business environment, expanding trade and exports, strengthening infrastructure and renewable energy, boosting employment in tourism and agriculture, particularly in underserved regions, and enhancing resilience to climate and economic shocks. 

A central objective is to generate sufficient quality employment opportunities for the nearly one million young Sri Lankans expected to enter the labour market over the next decade