World Bank MD stresses need to pursue reforms in Sri Lanka

The Managing Director for Operations at the World Bank, Anna Bjerde, has completed her four-day visit to Sri Lanka, where she urged the government to continue implementing reforms for economic recovery and sustainable growth.

In a press release, the World Bank emphasized its ongoing commitment to investing in people, enhancing human capital, and creating employment opportunities.

During her visit, Bjerde held meetings with Sri Lanka's President, Minister of Finance, cabinet ministers, representatives from opposition parties, civil society, private sector stakeholders, development partners, and beneficiaries of World Bank projects.

She also participated in a roundtable discussion hosted by the President, which included key ministers, private sector representatives, and development partners, including members of the MDB+ platform. This platform facilitates coordination among various Multilateral Development Banks (MDBs) and bilateral development partners in their engagement with Sri Lanka. The roundtable centered around Sri Lanka's progress in implementing structural reforms, attracting private capital for development, supporting job creation, investing in human capital, and fostering regional cooperation.

As Sri Lanka strives to recover from multiple unprecedented shocks that have had devastating consequences, Bjerde emphasized the importance of staying committed to sound and timely reforms. These reforms are essential for stabilizing the economy, promoting economic growth, attracting investments, generating jobs, protecting the most vulnerable segments of society, and building resilience to future crises. Additionally, Bjerde highlighted the need to strengthen governance, citizen engagement, and social cohesion, as these factors are crucial for achieving inclusive growth.

The World Bank's visit and Bjerde's interactions with Sri Lankan stakeholders underscore the organization's support for the country's efforts to overcome challenges and achieve sustainable development.