FINANCIAL CHRONICLE – Sri Lanka’s cabinet has approved a proposal to allocate $100 million from the $1,000 million funding provided by the World Bank’s International Development Association (IDA) for a development plan targeting the Northern and Eastern Provinces, according to Minister Nalinda Jayatissa.

This funding will support a proposed integrated regional development program, scheduled to be implemented in these two provinces over a six-year period from 2026 to 2031. “Under the first phase of the program, the focus will be on enhancing regional production potential in sectors such as tourism and fisheries, creating jobs or improving existing employment opportunities, supporting enterprises, attracting private capital, and improving infrastructure to empower institutions,” Jayatissa informed reporters.

The Department of External Resources will engage in discussions with the World Bank to initiate preliminary steps for the implementation of the proposed project, he added. (Colombo/Feb10/2026)