Sri Lanka on Friday launched the AgriConnect program, a $665‑million initiative backed by the World Bank Group and the International Fund for Agricultural Development (IFAD), to modernise its agriculture sector.
Officials said the program will connect 900,000 farmers to agricultural value chains by 2030 through digitalisation and other modernization measures.
The World Bank Group will provide $550 million in investment support, while IFAD will contribute $115 million.
Officials also said the initiative aims to make Sri Lanka’s agriculture and food sector more climate‑resilient and market‑oriented.
At the launch, the government noted that the agriculture and food sector accounts for about 15 percent of gross domestic product, 30 percent of merchandise exports and roughly one third of total employment.
The programme is expected to attract up to $170 million in additional private‑sector investment over the next five years.
Confirmation
These details were confirmed by Xinhua at the launch event in Colombo.
Unconfirmed details
No additional elements beyond the launch have been confirmed.