The CPF sets out a program of knowledge work, technical assistance and investments to support the Government of Sri Lanka in implementing its reforms to achieve greater competitiveness, social inclusion and sustainability. The CPF program can be grouped into the following 3 strategic priorities:
Priority 1: Improving Macro-Fiscal Stability and Competitiveness
To help the country transition to a more robust, competitive, and globally integrated economy and create better-paying private-sector jobs for the bottom 40 percent of the population. This will require improving public financial management, attracting more foreign direct investment, improving the enabling environment for the private sector and trade and modernizing the financial sector.
Priority 2: Promoting Inclusion and Opportunities for All
“To end poverty in Sri Lanka: empower women.” – Pradeep Paranaperuma, Member, Hambanthota District Chamber of Commerce and CPF consultations participant.
To support the government’s objective to better distribute the benefits of the country’s growth to all citizens, particularly the most vulnerable and marginalized. This will require improving education and training systems to provide the human capital to enable Sri Lanka to compete on the global market, improving health, pension and social protection systems to manage the challenge associated with an aging population, and improving living standards in the poorest regions.
Remediating the concentration of poverty in urban areas and increasing female labor force participation through education are also priorities of the inclusion agenda.
Priority 3: Boosting Green Growth, Improving Environmental Management, and Mitigating Natural Disasters and the Effect of Climate Change
“… if we can focus on sustainable development, we will be developed within 2020.” - Sharuka Selvarajah, Project Officer, Consortium of Humanitarian Agencies and CPF consultations participant.
To help improve the country’s capacity to mitigate the environmental impacts of economic transformation and better manage Sri Lanka’s resources natural resources. This will include limiting the environmental impact of urban development, strengthening climate resilience and disaster risk management, and developing renewable energy sources and better managing natural resources.
Sri Lanka is subject to a number of potential risks and vulnerabilities that may affect its economic and social goals. In order to achieve the country’s vision, we stand ready to help implement these priorities and help Sri Lanka build a brighter future for its people.
