News

Designer Budget’ will focus on start-up culture of ‘Empowering the Private Sector’: Mangala

12 October 2017 - 73   - 0

Minister of Finance and Media Mangala Samaraweera who is scheduled to present his maiden Budget next month as the Minister of Finance told a senior official of the World Bank that the budget is aimed at creating a robust, flourishing and modern economy and will focus on a start - up culture of “empowering the private sector”. 

Minister Samaraweera met the Director for South Asia of the International Finance Corporation (IFC) of the World Bank, Mengistu Alemayehu, in Washington,  yesterday 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.

Finance Minister Mangala 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.

Following extensive deliberations with Minister Samaraweera and his delegation, IFC Director Alemayehu stated that the IFC will 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 USD 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, Senior Advisor to the Finance Ministry Mr. Mano Tittawella, Deputy Secretary to the Treasury Mr. S.R. Attygalle, Additional Director General Mr. Ajith Abeysekara and Mrs. Hemantha Pubudusiri, Director of  the External Resources Department. 

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

 

  Comments - 0

  • Leave a comment

Top Stories

SL’s new Forex Act becomes operative on Nov.1 

  The Government has cancelled an earlier date of October 15 for Sri Lanka’s new Foreign Exchange Act, No. 12 of 2017 to beco...

17 October 2017 - Views : 31

President urged Pakistan to invest in sugar and cement industries

17 October 2017

Nine new District Organizers for SLFP appointed

17 October 2017

Bond Commission concludes hearings;says will summon PM if necessary

17 October 2017



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

Loving Vincent : Feature film made entirely of oil paintings

“I saw 50 or 60 painters painting, and someone told me: ‘Oh it’s you! I’ve been painting you ...

Canon’s Photo marathon on this month

Canon’s Photo marathon will be held on October 21 for which they have tied up with Sri Lanka Tourism targeting ...

English Writers Cooperative of Sri Lanka to hold discussion on the 'Novel'

The English Writers Cooperative of Sri Lanka (EWC) will hold a discussion on the Novel on Saturday, October 21 at the...

Bubbling over with warmth and comfort- 'The Cauldron' opens its doors in Colombo

Opening their doors on September 11, Colombo’s latest cafe venture “The Cauldron” has claimed a cos...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">