The Build Sri Lanka Development Society (BSDS), in collaboration with Global Business Enterprise Brussels, Belgium, has relaunched its funding initiatives in Sri Lanka and the Maldives. The projects aim to provide 100% funding without requiring collateral or guarantors, offering a significant boost to Sri Lanka’s economy.
BSDS was initially launched in 2018 to position Sri Lanka as a premier investment destination by attracting foreign investments and joint venture partners. Despite identifying numerous promising projects, its efforts were disrupted by the COVID-19 pandemic, economic instability, and political challenges, which deterred foreign investors.
Renewed Optimism and Investment
Dr. Prabath Ukkwatte, a consultant for BSDS, expressed optimism, citing the reestablishment of political stability, the rule of law, and Sri Lanka’s improved economic outlook. President of BSDS, Jude L. Ukkwatte, announced that the organization has secured nearly €500 million in funding for nine projects across Sri Lanka and the Maldives.
“We are now looking to facilitate more funding for projects ranging from €5 million to €1 billion, focusing on attracting entrepreneurs and investors globally to build a better Sri Lanka,” Ukkwatte said.
Key Projects in Sri Lanka and the Maldives
- Sri Lanka Projects:
- Two Waste-to-Energy projects by O2N Lanka Ventures Pvt Ltd in Karadiyana (€225 million).
- A biogas project by Lanka BioGas Oluvil Pvt Ltd (€65 million).
- Maldivian Projects:
- Renovation and upgrading of Medhufushi Island Resort (€25 million) and Fillitheyo Island Resort (€25 million).
- Development of a new five-star resort, Seedheehuraa Island Resort (€75 million).
Promoting Investments and Business Opportunities
BSDS is also planning International Investment and Development Conferences in Sri Lanka to attract global investors. Previously, it organized the Asia Hotel & Tourism Investment Conference in Colombo, which brought together over 300 international delegates from 48 countries.
To further promote Sri Lanka as an investment hub, BSDS operates the Sri Lanka Business Channel on YouTube, offering English-language business news and interviews to engage the global business community.
For more information, visit www.buildsrilankasociety.com.
