The interim country partnership strategy (CPS), 2015-2016 for Sri Lanka is the first step to adjust ADB’s operations strategy to align it with evolving needs. The interim CPS includes the agriculture, natural resources, and rural development sector in ADB’s priority sectors in Sri Lanka to strengthen the drive toward inclusive growth. Other strategic thrusts and priority sectors remain the same as in the CPS, 2012-2016.
More than 5 years since the end of civil war in 2009, Sri Lanka’s development is entering a new phase. There is emphasis on more inclusive economic growth, especially under the new government formed in January 2015.
The COBP increased the allocation for the education sector to strengthen support for human capital development, and included assistance for higher education in addition to secondary education and skills development. A line of credit to support small and medium-sized enterprises (SMEs) was approved in 2016 to support the government’s efforts toward inclusive growth. In the transport sector, ADB will continue to support the integration of rural areas into the main road network, while expanding ADB assistance to expressways, railways, and ports. With 100% rural electrification expected to be achieved in 2021, ADB’s intervention in the energy sector will focus more on developing renewable energy and strengthening the stability and reliability of power supply. ADB will continue support for secondary education and technical vocational education and training, while entering into tertiary education with a focus on science and technology faculties, industry links and entrepreneurship, and reforms in higher education to provide the basis for the knowledge economy.
