IFC announces $166mn package to boost Sri Lanka's pvt sector

Colombo: The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $ 166 million high-impact investment programme aimed at strengthening Sri Lanka's private sector and supporting the country's transition from economic stabilisation to sustainable growth.

The country-level financing package is designed to expand access to finance for small and medium-sized enterprises (SMEs), with a special focus on women-owned businesses and the agri-business sector.

"By targeting these key areas of Sri Lanka's economy, the financing seeks to drive inclusive growth and unlock job opportunities for underserved groups."

While SMEs account for over 75 per cent of all Sri Lankan businesses and 45 per cent of jobs, access to credit remains a significant barrier to their expansion.

Aligned with both the World Bank Group and key national priorities, this partnership aims to deliver targeted solutions for SMEs, helping businesses overcome challenges and supporting the country's long-term economic resilience. "SMEs are the undisputed backbone of Sri Lanka's economy, and their growth is essential for creating jobs.