Business
Optimising sustainable finance in agriculture via Public-Private Partnerships
Key stakeholders’ transformative dialogue on strengthening partnerships and unlocking private investment in sustainable and resilient agri-food systems
SLYCAN Trust and the Sustainable Development Council of Sri Lanka (SDCSL) recently co-hosted a thematic dialogue focused on Public-Private Partnerships (PPPs) and blended finance to scale up sustainable and climate-resilient investment in Sri Lanka’s agriculture sector.
The event brought together key stakeholders from Government agencies, financial institutions, industry associations, development partners, and other stakeholder groups to explore innovative approaches to mobilise resources for climate-friendly and resilient agri-food systems.
Sustainable Development Council Director General Chamindri Saparamadu underscored the critical need for sustainable investment opportunities in Sri Lanka’s agriculture sector, emphasising the gap between policy goals and implementation.
Saparamadu highlighted the importance of partnerships and resources to drive successful policy execution, stating: We are committed to exploring sustainable finance solutions, including blended finance, to address market failures and attract private investments in the agri-food sector. There remains a critical gap between our policy goals and targets and their implementation, including mobilising important partnerships and resources that are crucial for their successful implementation.”
SLYCAN Trust Director – Research & Knowledge Management Dennis Mombauer on stressed the role of the private sector in mobilising resources at scale to address climate change and promote green growth.
“Partnerships between the public and private sector as well as public-private-people partnerships can act as catalysts to unlock investment as well as other means of implementation, such as technology. We need to transform our financial systems and identify innovative financial instruments for sustainability and resilience building,” said Mombauer. He highlighted that this need for transformation was increasingly being recognised at the global level as well, including in the context of the multilateral climate negotiations.
In his keynote address, Senior Advisor to the President on Climate Change Ruwan Wijewardene focused on Sri Lanka’s commitment to sustainable agriculture and climate action.
“Today’s dialogue offers a unique opportunity to collectively brainstorm priorities and modalities for blended finance instruments tailored to our agricultural sector’s needs. By harnessing the expertise and resources of diverse stakeholders, we can co-create solutions that drive inclusive and sustainable growth. This dialogue provides a platform to explore policy direction that incentivises private sector engagement while safeguarding the interests of all stakeholders,” said Wijewardene.
The dialogue focused on identifying bankable projects for sustainable investment and establishing a pipeline of such projects to attract private and public finance in the agri-food sector. Furthermore, participants engaged in discussions around the available resources and opportunities for establishing a blended finance facility, with technical inputs provided by SLYCAN Trust Senior Technical Expert Happy Khambule and representatives from the Ceylon Chamber of Commerce, the banking sector, non-banking financial institutions, and the Department of Development Finance.
The event highlighted the importance of collaborative efforts in addressing climate change and other challenges facing Sri Lanka’s agriculture sector while emphasising on the potential role of blended finance in driving inclusive, sustainable, and resilient growth while safeguarding stakeholder interests.
In her closing remarks, SDCSL Director General Saparamadu emphasized the importance of addressing issues relating to policy inconsistencies and agriculture modernization while working in parallel towards developing sustainable financing mechanisms in the agri-food sector.
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.”
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