The Asian Development Bank (ADB) said on Wednesday (10) that it has approved a $ 3 million (over Rs. 500 million) grant from its Asia Pacific Disaster Response Fund (APDRF) to further assist Sri Lanka in its response to the novel coronavirus disease (COVID-19) pandemic. The grant, which is financed by the Government of Japan and…
Verité Research has launched the first phase of publicfinance.lk, an online platform that will eventually be a one-stop-shop for all public finance related information in Sri Lanka. The beta version features initial insights and analyses on four key areas of public finance: debt, expenditure, financing and revenue. PublicFinance.lk aims to enhance the public’s understanding of…
The inquiring committee appointed to investigate alleged irregularities in the ETI Investments met President Gotabaya Rajapaksa at the Presidential Secretariat today(June 11). The Committee informed the President that the ETI Investments had not followed the proper procedures in their conduct from its inception. It had invested its assets in other institutes and at the same…
President Gotabaya Rajapaksa says the Government is ready to give its fullest support to the export sector to realize its full potential through correctly identifying and rectifying prevailing grievances and obstacles faced by it. The challenge before the exporters is to show results by expanding the export sector which is at present limited to a…
Sampath Bank PLC saw an upward revision in its National Long-Term Rating awarded by Fitch Ratings. The Bank received a rating of AA- (lka) in Fitch Ratings’ revised National Long-Term Ratings of Sri Lankan financial institutions, up from the A+ (lka) it had earlier. This positive rating revision further underscores the strength of Sampath Bank’s…
The Commercial Bank of Ceylon has announced the launch of another Bank-funded loan scheme, this time to assist micro enterprises affected by the COVID-19 pandemic, in a continuing demonstration of the Bank’s commitment in supporting Sri Lanka’s post-pandemic economic recovery. The second Bank-funded loan scheme launched by the country’s benchmark private sector bank in the…
The existing labour statutes have to be amended to allow greater flexibility as current regulations deter employers from recruiting during periods of uncertainty, delaying economic recovery, a top industry official said. “This is a time for renewed focus on facilitating unhindered international trade so that our exports remain competitive in key markets. Labour regulations must also be…
The World Bank projects Sri Lanka’s economy to contract by 3.2% this year and remain flat at zero percent next year. “In Sri Lanka, the combination of falling tourism, manufacturing activity and services associated with the pandemic is envisaged to cause output to contract by 3.2 percent, despite the earlier recovery from the April 2019 terrorist…
An agreement was signed by the Government of Sri Lanka with the Government of Germany today to obtain a technical assistance grant of Euro 11 million to implement the following three projects. Vocational Training in Sri Lanka – Euro 7 million This Project aims at providing demand-oriented cooperative vocational training for young people. Small &…
The United Nations Children’s Fund (UNICEF) supported the Ministry of Health and Indigenous Medical Services (MOH) in refurbishing COVID-19 isolation units at three specialist Hospitals in the country, as part of its on-going efforts in responding to the pandemic. The isolation units were established at the Lady Ridgeway Hospital for Children, Castle Street Hospital for…
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