The Government of Sri Lanka, in partnership with the World Bank Group and the International Fund for Agricultural Development (IFAD), has officially launched the Sri Lanka AgriConnect Joint Implementation Plan to modernize the nation’s agrifood sector, create jobs, and strengthen food security.
“Sri Lanka is committed to transforming our agrifood sector from one that primarily produces commodities to one that creates greater value, better jobs and stronger opportunities for rural communities. Our farmers, fishers and rural communities are not simply beneficiaries of development, they are partners in building a stronger, more productive and more resilient economy. The AgriConnect Joint Implementation Plan will directly catalyze Government action under our Public Investment Programme, helping us connect farmers to finance, technology and markets while creating better jobs, attracting private investment and expanding opportunities across rural Sri Lanka,” said Dr. Harini Amarasuriya, Prime Minister of Sri Lanka.
Aligned with the Government’s national development agenda, the Public Investment Programme 2026-2030, and the World Bank Group’s Country Partnership Framework, the initiative aims to assist 900,000 farmers in accessing agricultural value chains by 2030. The plan is backed by $550 million in World Bank Group investments and $115 million from IFAD, alongside efforts to mobilize up to $170 million in private capital over the next five years.
Highlighting the sector’s potential, where agriculture and food processing account for at least 15% of Sri Lanka’s GDP, 30% of goods exports, and one in three jobs, Sarvesh Suri, IFC Regional Vice President for Asia and the Pacific, noted: “Sri Lanka has globally competitive agricultural products and strong entrepreneurial potential. The priority now is to connect farmers and agribusinesses with the finance, technology and markets they need to scale. By aligning public and private investment – from innovative financing to risk-sharing solutions – AgriConnect can unlock capital, strengthen agribusinesses and create more and better jobs.”
Sri Lanka is the first South Asian country to join AgriConnect, which will focus on key value chains including coconut, cinnamon, tea, fisheries, dairy, poultry, aquaculture, and horticulture, with a special emphasis on expanding opportunities in lagging regions like the Northern and Eastern Provinces.
Regarding the implementation on the ground, Donal Brown, IFAD Associate Vice-President, Department for Country Operations stated, “There is a real opportunity to build on the progress already made in Sri Lanka’s rural economy and ensure that investments continue to reach smallholder farmers. Through AgriConnect, we can maintain this momentum and bring together the scale, financing and expertise of all partners to invest in the first mile of food systems. This means translating our shared vision into tangible realities for rural transformation: driving capital into rural areas, generating jobs, and building resilience against future shocks.”
Implementation of AgriConnect has already commenced via the International Development Association-financed Integrated Rurban Development and Climate Resilience Project (IRDCRP), while the IFC is complementing the initiative by expanding access to finance and enhancing competitiveness in key industries like cinnamon and coconut. (Newswire)