September 16, Colombo (LNW): The World Bank’s Vice President for South Asia, Johannes Zutt, has concluded a two-day official visit to Sri Lanka, marking his first since assuming the role. The visit underscored the World Bank Group’s commitment to strengthening its partnership with Sri Lanka at a time of economic transition and reform.
During his stay, Mr Zutt held high-level discussions with President Anura Kumara Dissanayake, Central Bank Governor Dr Nandalal Weerasinghe, Treasury Secretary Dr Harshana Suriyapperuma, and other key government officials. The meetings focused on Sri Lanka’s ongoing economic recovery efforts and the importance of accelerating structural reforms aimed at unlocking investment and expanding job opportunities.
The visit follows up on the commitment made during World Bank Group President Ajay Banga’s visit earlier this year, during which the institution pledged over US$1 billion in development financing for Sri Lanka over the next three years.
That partnership has already borne fruit with two major initiatives launched: a US$150 million renewable energy programme aimed at generating 1 GW of clean energy through private sector participation, and a US$100 million agriculture project focused on improving resilience and productivity in the sector.
Building on this momentum, further programmes are in the pipeline, including initiatives in tourism development, digital transformation, regional economic upliftment—especially in the Northern and Eastern provinces—and improvements in port infrastructure and logistics.
Mr Zutt praised the Sri Lankan government for the progress made so far in stabilising the economy after years of crisis, while noting that the next phase must centre on building sustainable growth through employment generation and private sector participation.
A key point of discussion was the country’s labour market challenges. With close to one million young people expected to enter the workforce over the next ten years—but projections showing only 300,000 new jobs likely to be created—Zutt emphasised the urgent need to stimulate private sector growth as a means to close this gap.
He reiterated the World Bank’s readiness to support the government’s reform agenda, with a particular emphasis on policies that encourage foreign direct investment, improve competitiveness, and deliver tangible development outcomes for citizens.
