ADB-Sri Lanka Partnership Strategy
With robust growth over the last decade (2007 - 2016), averaging about 6% per annum, Sri Lanka is close to becoming an upper middle-income country (UMIC). The key development challenge is to maintain the momentum of rapid inclusive and sustainable growth and advance its UMIC status.
ADB will support Sri Lanka’s transition to UMIC status through its country partnership strategy (CPS), 2018 - 2022, The CPS will focus on two strategic objectives: strengthen the drivers of growth by promoting diversification of economic activities and productivity enhancement (pillar 1), and improve the quality of growth by promoting inclusiveness (pillar 2). The priority investment areas for pillar 1 will be to:
(i) expand the provision of growth-oriented infrastructure (transport, energy, and urban) and logistics;
(ii) develop an economic corridor; and
(iii) upgrade human capital.
For pillar 2, the priority investment areas will be to:
(i) strengthen agriculture infrastructure and commercialization,
(ii) improve rural connectivity,
(iii) improve public service delivery, and
(iv) expand access to finance for small and medium-sized enterprises (SMEs).
Key thematic priorities are
(i) promoting private sector development and public - private partnership (PPP);
(ii) strengthening environment, climate change, and disaster risk management; and
(iii) promoting gender equality.
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