Business
ADB and Japan support food security and livelihood recovery in Sri Lanka
Enhancing the dignity of the people in need
The Asian Development Bank (ADB) and the Government of Sri Lanka on Friday signed a $200 million emergency assistance loan and a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR). This will ensure access to food and protect livelihoods for the poor and the vulnerable, especially women and children. The loan funds have been repurposed from the ongoing ADB portfolio.
Secretary to the Treasury and Ministry of Finance K. M. Mahinda Siriwardana signed the loan agreement for the Government of Sri Lanka and ADB Country Director for Sri Lanka Chen Chen signed on behalf of ADB. The loan signing was witnessed by the Ambassador of Japan to Sri Lanka Mizukoshi Hideaki.
“This emergency assistance loan will provide much-needed financing to ensure access to food and protect livelihoods of the poor and vulnerable during the unprecedented economic crisis that Sri Lanka is facing right now,” said Siriwardana. “The project will provide crucial support to the government in extending assistance to vulnerable groups and restoring the livelihood of the poor and vulnerable, including farmers.”
Amid the current economic difficulties, food insecurity has severely affected the people of Sri Lanka. The assistance will expand direct financial support for the poor and vulnerable while boosting livelihood development activities and agricultural production and enhancing social protection systems.
“This loan forms part of ADB’s emergency response package to the multifaceted challenges facing Sri Lanka. ADB has been addressing immediate needs, such as essential medical supplies, materials for water treatment, and working capital for small and medium-sized enterprises by reallocating surplus loan proceeds from ongoing loans,” said Mr. Chen. “Moving forward, ADB will continue to work closely with development partners to support Sri Lanka’s recovery from the economic crisis.”
For at least 3 months, the project will support the temporary increase in the monthly cash grant amount and the number of beneficiaries of the existing social assistance programs. In addition, it will replace the monthly food vouchers for pregnant and lactating women with higher value cash grants, while extending support to undernourished children under the age of 2. The project will also upgrade information technology systems and digital tools for the Samurdhi program and agriculture and agrarian development to enhance cash grant beneficiary selection, verification, monitoring, and communication, and improve financial, advisory, and other services for low-income families and farmers. The project will adopt strengthened measures for financial management and governance and follow ADB’s policies for procurement and anticorruption during the implementation.
The $3 million grant from the JFPR will provide basic needs, such as food, hygiene kits, and medicines. It will support livelihood development of vulnerable women and children and strengthen support mechanisms for victims of gender-based and domestic violence. To promote advanced practices and technologies for precision agriculture and improved crop productivity among farmers, especially female farmers, the grant will support the upgrading and delivery of the Good Agricultural Practices certification program.
“The economic crisis has affected the most vulnerable communities such as women and people with special needs. I am convinced that the support provided by the government and the people of Japan, in collaboration with ADB, will provide the necessary protection and enhance the dignity of the people in need,” said Hideaki.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
