Tag:World Bank

The Aswesuma scheme, introduced in 2023, aims to replace a decades-old programme with a new model that ostensibly uses multidimensional deprivation scores rather than just income thresholds.

A core feature of the initiative includes $40 million in World Bank Group guarantees in the first phase. This will help reduce risks for private investors and energy producers.

Tourism, one of Sri Lanka’s key economic drivers, is set to receive $200 million. These funds will be used to protect and enhance natural and cultural heritage sites, create employment opportunities, and ensure local communities benefit directly from tourism revenues.

The programme would also develop an integrated pollutant and a greenhouse gas (GHG) emissions inventory system to provide a comprehensive approach to tracking and managing emissions data.

A central concern of the report is India's underutilized demographic dividend. Despite having a large working-age population, the country's labor force participation rate stands at a mere 56.4 percent, significantly lower than its peers.

The climate-smart agriculture concept reflects the ambition to improve the integration of agriculture development and climate responsiveness.

Sri Lanka's recent economic performance has shown resilience, but challenges persist. The World Bank cautioned that macroeconomic stability is contingent on the consistent implementation of fiscal, financial, and monetary policies.