The Ministry of Plantations and Community Infrastructure has entered into a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, and the Government of Australia to accelerate growth in Sri Lanka's coconut export sector.
A cooperation agreement was signed today (28th) at the Ministry of Plantation Industries and Community Infrastructure by the Ministry Secretary, Mr. B. K. Prabath Chandrakeerthi, and the IFC South Asia Regional Manager, Mr. Gregory Smith.
The collaboration aims to enhance the industry's global competitiveness through targeted technical assistance, policy dialogue, and comprehensive capacity building across the value chain.
Sri Lanka achieved an export income of US$ 1,233 million from the coconut industry in 2025, and this industry remains a cornerstone of the agricultural economy. It provides a critical contribution to rural employment and foreign exchange earnings. To support farmers and value chain players, the IFC will work in close coordination with key industry organizations, including the Coconut Research Institute (CRI), Coconut Cultivation Board (CCB), and Coconut Development Authority (CDA). Special attention is being paid to expanding assistance for the expansion of coconut cultivation in the Northern Province. Additionally, the partnership aims to integrate sustainable agricultural practices and implement gender-inclusive training programs.
Overall, the partnership aims to ensure Sri Lanka's coconut industry can meet international demand while securing a sustainable future for its local producers.
The event was attended by Ms. Ruth Baird, Australia’s Deputy High Commissioner to Sri Lanka; Ms. Zoe Kidd, First Secretary of the Australian High Commission in Sri Lanka; Mr. Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives; and several IFC officials. Also present were Mr. K. S. Wijayakeerthi, Additional Secretary of the Coconut and Related Crops Development Division, along with other Additional Secretaries; Dr. Sunimal Jayakody, Chairman of the Coconut Cultivation Board; Prof. Ajith Jayaweera,Chairman of the Coconut Research Institute and its Director; the Director General of the Coconut Development Authority; and Ministry officials.
