The World Bank Group has announced a $1 billion support package to spur job creation and unlock private sector growth in Sri Lanka over the next three years. The initiative focuses on energy, agriculture, tourism, and regional development sectors seen as critical to long-term economic recovery.

The announcement followed a meeting in Colombo between Sri Lankan President Anura Kumara Dissanayake and World Bank President Ajay Banga, marking the first visit by a Bank President in 20 years.

The World Bank estimates that nearly one million young people will enter the workforce in the next decade, but only 300,000 jobs are expected. The funding aims to bridge this gap by mobilising private capital, supporting renewable energy, modernising agriculture, and promoting tourism and regional development.