Cabinet nod to Implement Integrated Regional Development Project in Northern and Eastern provinces
The International Development Association of the World Bank Group is scheduled to provide $1,000 million in financial assistance to Sri Lanka for the period 2026-2031, of which $100 million has been allocated to implement the Northern and Eastern Provinces Integrated Regional Development Project. Subsequent to the approval granted at the cabinet meeting held on 09-02-2026, […]
The International Development Association of the World Bank Group has pledged $1,000 million in funding for Sri Lanka's Northern and Eastern Provinces Integrated Regional Development Project, set to run from 2026 to 2031. This $100 million allocation was approved during a cabinet meeting on February 9, 2026. The project aims to bolster sectors with economic potential, encourage micro, small, and medium-scale enterprises, create economic opportunities, expand connectivity, and stimulate regional growth through sustainable development.
By enhancing competitiveness in the Northern and Eastern provinces, the initiative seeks to accelerate economic growth in these regions. Following the cabinet's approval, negotiations with the World Bank Group to secure the necessary credit facility have been successfully concluded. President Wickremesinghe, in his role as Minister of Finance, Planning, and Economic Development, has authorized Cabinet members to finalize the requisite financial agreements to receive the $100 million grant from the International Development Association.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
