IFC reaffirms commitment to SL with plans to increase investments
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L:R – Faris Hadad-Zervos, World Bank Country Director for Sri Lanka, Maldives and Nepal; Hector Gomez Ang, Regional Director for South Asia; Lisa Kaestner, Country Manager for Sri Lanka and the Maldives; Alfonso Garcia Mora, IFC Regional Vice President for Asia and the Pacific; President Gotabaya Rajapaksa, Gamini Senarath, Secretary to President; Lalith Weeratunga, Principal Advisor to the President; S.R. Attygalle, Secretary/Ministry of Finance and Ajith Abeysekera, Director General/External Resources Department
The World Bank-affiliated IFC aims to boost its investments in Sri Lanka, with a focus on supporting private sector job creation, paving the way for robust investments to help spur the country’s recovery and future growth.
These comments were made by IFC Regional Vice President for Asia and the Pacific, Alfonso Garcia Mora, at the end of a three-day visit to Sri Lanka, which included a meeting with President Gotabaya Rajapaksa, Finance Minister Basil Rajapaksa and other government officials, according to an IFC media release.
Mr. Garcia Mora was accompanied by IFC’s Vice President for Risk, Mohamed Gouled, Regional Director for South Asia, Hector Gomez Ang and the new Country Manager for Sri Lanka and the Maldives, Lisa Kaestner, as well as the World Bank Country Director for Sri Lanka, Maldives and Nepal, Faris Hadad-Zervos.
“In my meeting with the President, we discussed the need to have a sound macro fiscal stability to attract foreign capital and provide medium- and long-term certainty,” Mr. Garcia Mora said. “The talks also focused on ways to maximise the potential of the country’s private sector to help address Sri Lanka’s challenges and achieve the inclusive growth the country needs.”
“We are committed to Sri Lanka,” Mr. Garcia Mora said. “This is demonstrated by our investment commitments in the past six months which have targeted export-oriented industries. Since the onset of the pandemic, IFC has also played a strong counter cyclical role in its financing and will continue to build on that programme going forward.”
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