Business

The government of Sri Lanka has decided to secure US$50 million from the World Bank Group through Special Drawing Rights (SDR) to launch the Sri Lanka Digital Transformation Project. This project is part of the Digital Economy Strategy for 2025-2030 and aims to deliver public services more efficiently and transparently using digital technologies. The Cabinet approved the plan to seek international support for the project during a meeting in October 2025. Negotiations for the loan, involving various stakeholders from the government and the World Bank Group, have now concluded. The Ministry of Finance, Planning, and Economic Development will be responsible for obtaining the loan on behalf of the Sri Lankan government, while Gov Tec Sri Lanka will oversee the project's implementation. The Cabinet of Ministers has also approved a resolution from the President, who serves as the Minister of Finance, Planning, and Economic Development, to secure the US$50 million from the World Bank Group under the financial guidelines set by the Public Debt Management Office, following the Public Debt Management Act No. 33 of 2024.