Sri Lanka’s Ministry of Plantation and Rural Infrastructure has entered into a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, and the Australian Government to boost the country’s coconut industry and accelerate export growth.
A cooperation agreement between the Ministry and IFC was signed today (28 Jan) by Ministry Secretary Prabath Chandrakeerthi and IFC’s South Asia Regional Manager Gregory Smith.
According to the Ministry of Plantation, the initiative aims to enhance the global competitiveness of Sri Lanka’s coconut sector through targeted technical support, policy dialogue, and capacity building across the value chain.
Sri Lanka earned USD 1,233 million in export revenue from the coconut industry in 2025, making it a key contributor to the agricultural economy, rural employment, and foreign exchange.
IFC will work closely with the Coconut Research Institute (CRI), Coconut Cultivation Board (CCB), and Coconut Development Authority (CDA) to support farmers and stakeholders, with special focus on expanding cultivation in the Northern Province.
The programme also seeks to integrate sustainable agricultural practices and gender-inclusive training.
Overall, the partnership is expected to help Sri Lanka meet rising international demand for coconuts while ensuring a sustainable future for local producers. (Newswire)