Sri Lanka Secures $665 Million AgriConnect Investment Through World Bank and IFAD Partnership

Sri Lanka has joined forces with two of the world's leading development finance institutions to launch a landmark agricultural transformation programme worth $665 million, signalling a major step forward in the country's efforts to modernise its farming sector and strengthen food security.

A Strategic Alliance for Agricultural Revival

The Government of Sri Lanka has formalised a partnership with the World Bank and the International Fund for Agricultural Development (IFAD) to roll out the AgriConnect plan, an ambitious initiative designed to revitalise the island nation's agriculture industry. The collaboration reflects growing international confidence in Sri Lanka's economic recovery trajectory and its commitment to sustainable development.

The $665 million programme is expected to bring sweeping improvements across the agricultural value chain, targeting smallholder farmers, rural communities, and agribusinesses that form the backbone of Sri Lanka's food production system.

What AgriConnect Aims to Achieve

The AgriConnect initiative is structured to address some of the most persistent challenges facing Sri Lankan agriculture, including limited access to modern technology, inadequate rural infrastructure, and vulnerability to climate-related disruptions. Key areas of focus are expected to include:

• Improving connectivity between farmers and markets to reduce post-harvest losses
• Expanding access to agricultural financing for smallholder farmers
• Strengthening rural infrastructure including irrigation and transport networks
• Promoting climate-resilient farming practices across key growing regions

Significance for Sri Lanka's Recovery

The announcement comes as Sri Lanka continues to rebuild its economy following the severe economic crisis of 2022, which had a devastating impact on agricultural inputs, food availability, and rural livelihoods. Partnerships of this scale with multilateral institutions are seen as critical to sustaining the country's recovery momentum.

The AgriConnect plan represents one of the largest coordinated agricultural investments in Sri Lanka's recent history, bringing together global expertise and substantial funding to support the country's farming communities.

Both the World Bank and IFAD have maintained an active development presence in Sri Lanka over the years, and this latest collaboration deepens their engagement with the country's rural and agricultural sectors at a pivotal moment in its economic journey.

Further details regarding the phased implementation timeline, specific regional targeting, and disbursement mechanisms of the AgriConnect programme are anticipated to be released by the relevant government ministries in the coming weeks.