Business
New IFC Country Manager to focus on spurring resilient private sector-led growth
IFC has appointed Alejandro Alvarez de la Campa as the new Country Manager for Sri Lanka and Maldives. Based in Colombo, Alvarez de la Campa will lead IFC’s strategy in building a diversified portfolio and increasing impact in both countries, while helping strengthen sustainable private sector development to promote inclusive growth, an IFC news release said.
A Spanish national, Alvarez de la Campa joined IFC in 2004, and has extensive experience working across the World Bank Group. Prior to this appointment, he was the Manager leading IFC’s Creating Markets Advisory teams in Africa, Latin America, and the Middle East, in charge of strategic engagements with governments and private sector partners to improve the investment climate across regions and industries.
Alvarez de la Campa was also a Practice Manager for Finance, Competitiveness and Innovation (FCI) and Finance and Markets (F&M) in Africa in the joint World Bank-IFC Global Practice group, the release said.His appointment comes at a significant time for Sri Lanka when the country needs to spur private sector-led growth to navigate the ongoing economic fallout, it said.
“With Sri Lanka’s economy expected to contract by 9.2 percent this year and a further 4.2 percent in 2023, it’s vital to work to spur the financial resources and expertise of the private sector to help the country on the long road to recovery,” said Hector Gomez Ang, IFC Regional Director for South Asia. “With the right reforms in place, IFC in Sri Lanka under the leadership of Alvarez de la Campa is determined to play its part in helping spur investments and create jobs.”
Bringing years of experience leading teams who supported policy implementation and reforms for private-sector-led development, Alvarez de la Campa’s top priority will be to strategically lead IFC’s investment and advisory engagements in Sri Lanka, pushing for stronger, progressive steps towards improving private sector-led growth to create jobs and opportunities for people.
“As the Country Manager for IFC in Sri Lanka and Maldives, I am looking forward to continuing and scaling up IFC’s impact in Sri Lanka while also strengthening our engagements with the private sector, government and development partners,” said Alejandro Alvarez de la Campa. “We know from our experience, a stronger private sector leads to increased economic opportunities, and IFC is well positioned to support Sri Lanka through these critical times.”
“I believe that no crisis is the same, and that out of crises can emerge opportunities which cannot be wasted,” he said. “One of the greatest assets of Sri Lanka is the resilience of its people. Despite economic and political headwinds over the years, Sri Lankans have always shown their strength in building back better. We are well aware of that and IFC will continue to support the country, building new partnerships to pave the way for a more sustainable, resilient, and inclusive future.”
Alvarez de la Campa holds a Law Degree (JD) from the University of Seville and an MSc in Innovation and Entrepreneurship from HEC Paris.
With over 50 years of operations in Sri Lanka, IFC has played a significant role in the country’s growth story by supporting small businesses, tourism, women, including women entrepreneurs, infrastructure, trade finance, and agribusiness. In Sri Lanka, IFC has invested over $1.9 billion across sectors including infrastructure, telecom, tourism, energy, and health, while providing cutting-edge solutions and expertise to diverse clients across the country.
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
