Sri Lankan government launches Rs. 100 billion grassroots revival programme - Opportunity Sri Lanka
Sri Lankan government launches Rs. 100 billion grassroots revival programme

Sri Lankan government launches Rs. 100 billion grassroots revival programme

The government of Sri Lanka last week launched a Rs. 100 billion programme at reviving the grassroots level, which was a programme in the government’s 2022 Budget proposals.
Sri Lanka’s Finance Minister Basil Rajapaksa last week informed the media of the initiative and expressed hope that the programme would unleash a revitalisation of livelihood, socio-economic infrastructure, environment and social development at village level.
According to the reports, the grandiose initiative involves 100,000 people championing projects of Rs. 1 million each at village level bringing a 2022 Budget-allocated Rs. 100 billion into fruition. “This is a bipartisan initiative as it covers all districts and electorates even if the ruling party hadn’t won a seat,” the Finance Minister has been quoted as saying.

The Budget 2022 allocated Rs. 85 billion for the village-level development as envisioned by Sri Lanka’s President Gotabaya Rajapaksa.

“What is unique is that these projects are championed by villages and implemented in collaboration with public servants. The Government is only supporting it via funding. It is important that these projects would eventually serve towards realising macro national development goals,” Rajapaksa has added.

OSL take:

Sri Lanka is currently engaged in an aggressive development programme aimed at taking the country to the next level of development. The government of Sri Lanka meanwhile has also focused on the uplifting and development of the rural economy as part of its overall economic development/expansion programme. Sri Lanka has shown great resilience to the Covid 19 pandemic is many economic sectors are now on the path to recovery after facing the pandemic challenges. The country is also positioning itself as an emerging business destination in the South Asian region. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements as well as concessions enjoyed by the country and the business conducive environment have further increased the country’s attraction as a growing business destination. All these have resulted in the expansion of business/investment opportunities in Sri Lanka.

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Article Code : VBS/AT/11022022/Z_1

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