World Bank lends SL US$125 million to modernize agriculture

Thursday, 19 January 2017 - 7:28

World Bank will give Sri Lanka US$125 million to modernize the agriculture sector.

This will aid the country to make the agri sector more efficient.

World Bank Country Director for Sri Lanka and the Maldives Idah Pswarayi-Riddihough, and Secretary to the Treasury, Ministry of Finance R.H.S. Samarathunga signed the project on behalf of the World Bank and the Government of Sri Lanka.  

Program Leader at the World Bank Ulrich Schmitt said, “This project aims to demonstrate new agricultural practices and institutional arrangements in the project areas, linking smallholder farmers into modern agriculture value chains and creating attractive jobs, including for women and young people.  Innovation and new technology will help improve not only the sector’s economic efficiency but also enhance resilience to natural disasters and climate change.”