The World Bank’s Vice President for South Asia, Johannes Zutt, concluded his first official visit to Sri Lanka yesterday.

During his two-day visit, he met with President Anura Kumara Dissanayake, Central Bank Governor Dr. Nandalal Weerasinghe, Secretary to the Treasury Dr. Harshana Suriyapperuma, and other senior officials.

The visit built on World Bank Group (WBG) President Ajay Banga’s visit in May, when the Bank pledged over US$1 billion in financing for the country over the next three years. 

Since then, the WBG and Sri Lanka have partnered on two programs: a renewable energy program targeting 1 GW with private investment (US$150 million) and an agriculture project (US$100 million). 

Additional operations are planned over the next 12 months in tourism, regional development with a focus on the Northern and Eastern provinces, digital development, and ports and logistics.

In their discussions, Zutt commended President Dissanayake for Sri Lanka’s hard-won economic stabilization and committed to continue supporting the government in implementing reforms that create jobs, attract private investment, and modernize key sectors. 

“It was a privilege to visit Sri Lanka and meet with President Dissanayake to learn about his government’s vision for growth,” Zutt said. “The groundwork for recovery has been laid. Now is the time to focus on jobs, investment, and inclusive development. The World Bank Group is ready to support Sri Lanka in this journey, prioritizing mobilization of private capital and attracting foreign direct investment to expand services and create jobs.”

With nearly one million young people expected to enter Sri Lanka’s workforce over the next decade, but only 300,000 new jobs projected, Zutt stressed that unlocking private sector growth for job creation will be essential. 

The World Bank Group assures that it will continue working in partnership with the government to attract private capital, strengthen competitiveness, and expand service delivery and job opportunities across the country. (Newswire)

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The World Bank has appointed Johannes Zutt as the new Vice President for the South Asia Region, succeeding Martin Raiser. His appointment is effective from July 1, 2025.

According to the World Bank Group, as the regional Vice President for South Asia, Zutt will manage World Bank relations with Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka, and oversee a portfolio of projects, technical assistance and financial resources worth $39 billion.

Under Zutt’s leadership, the World Bank will continue to support the South Asia region to address job creation, climate and disaster resilience, human capital development and private capital mobilization.

A Dutch national, Zutt joined the World Bank in 1999 and has taken positions of increasing responsibility. He has most recently served as the World Bank’s Country Director for Brazil. Before this, he was the Director for Strategy, Results, Risk and Learning in the Operational Policy and Country Services (OPCS) Vice Presidency. He has also served as Country Director for Bangladesh, Bhutan and Nepal, as well as for Türkiye, Comoros, Eritrea, Kenya, Rwanda, Seychelles and Somalia.

“I am delighted to see the strong development progress that South Asia has achieved in the 10 years since I last worked in the region,” said Zutt. “I look forward to this new opportunity to contribute and to once again experience the warmth of the region’s people and the richness of its cultures.” 

Zutt has a B.A. and M.A. in Philosophy from the University of Toronto, a Law degree from Harvard University, and a Doctorate in Philosophy from the University of Oxford.

He will be based in New Delhi, India, which will serve as the new regional hub for the South Asia region, in line with the World Bank’s decentralization to be closer to clients and enhance service delivery. (Newswire)

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