IFC’s Vice President for Asia Pacific, Riccardo Puliti, concluded a two-day visit to Sri Lanka, expressing IFC’s dedication to supporting the country’s ongoing reforms and growth agenda. Puliti emphasized the pivotal role of the private sector in driving inclusive economic growth during meetings with key stakeholders, including government officials, private sector representatives, and development partners. He highlighted Sri Lanka’s potential for sustainable growth and urged continued implementation of reforms to foster a conducive business environment.
During his visit, Puliti announced a new equity investment in Sunshine Healthcare Lanka Limited to bolster the company’s pharmaceutical manufacturing capacity and retail footprint. This investment underscores IFC’s commitment to supporting Sri Lanka’s transition from stabilization to sustainable growth, reflecting confidence in the country’s private sector and economic recovery. Additionally, Puliti signed an advisory engagement with Commercial Bank of Ceylon (CBC) to promote green finance, aiming to facilitate the bank’s transition towards a net-zero future funded by the European Union.
IFC’s strategic efforts in Sri Lanka focus on supporting innovation for growth, sustainable infrastructure development, and social and financial inclusion. Puliti reiterated IFC’s commitment to collaborating with the private sector and the government to create a robust investment pipeline, enhance competitiveness, and generate quality jobs. Recognizing the country’s potential and opportunities, IFC intends to deepen its investments in Sri Lanka.
Amidst the pandemic, IFC has been a key investor in Sri Lanka, providing over $800 million in essential long-term capital and trade financing to sustain businesses and preserve jobs. Recent partnerships with Citizens Development Business Finance PLC (CDB) and CBC demonstrate IFC’s commitment to expanding climate finance and supply chain financing in Sri Lanka, contributing to the country’s economic resilience and growth trajectory.