Business
The Doing Good Index (DGI) 2022 reveals widespread pessimism about the future of Sri Lanka’s social sector
Optimism among social sector organisations in Sri Lanka is low, according to Doing Good Index 2022, a new report from the Centre for Asian Philanthropy and Society (CAPS) in partnership with the Institute of Policy Studies of Sri Lanka (IPS). The social impact study exposes the underlying structural conditions preventing the region’s social sectors from thriving. It also identifies opportunities for government, companies, philanthropists, and social delivery organisations (SDOs) to work together to address social and environmental challenges.
Sri Lanka’s ongoing social, political and economic turmoil has created a challenging environment for social sector organisations. Only a quarter of surveyed organisations feel optimistic about the sector’s future, less than half the Asian average of 56%.
“While the factors inhibiting Sri Lanka’s social sector are embedded within a larger context of the circumstances facing the country, there are still steps that can be taken to make improvements”, said Dr. Ruth Shapiro, Co-founder and Chief Executive of CAPS. “The need to revive the social sector is urgent, and the Doing Good Index is a starting point to show us how the sector can be fortified.”
Foreign funding for the social sector has declined, with only 50% of surveyed organisations in Sri Lanka receiving income from overseas sources, compared to 71% in 2020. Previously the dominant funding source for nonprofits, making up 59% of an organisation’s budget in 2020, this proportion has since fallen to less than a third in 2022. Exacerbated by the economic crisis, government funding, including grants and procurement contracts, is also low, comprising less than 2% of an organisation’s income.
Constant changes to the regulatory environment have created a challenging ecosystem for Sri Lankan SDOs to operate. Over the past 25 years, the NGO Secretariat has come under the purview of nine different ministries, resulting in high levels of uncertainty and unease among SDOs. Policy consistency and transparency are necessary enabling factors for the social sector to effectively carry out its work for Sri Lankan society.
The social sector has also seen major changes in the funding landscape. Foreign funding for the social sector has declined, with only 50% of surveyed organisations in Sri Lanka receiving income from overseas sources, compared to 71% in 2020. Previously the dominant funding source for nonprofits, making up 59% of an organisation’s budget in 2020, this proportion has since fallen to less than a third in 2022. Exacerbated by the economic crisis, government funding, including grants and procurement contracts, is also low, comprising less than 2% of an organisation’s income.
“Local support for Sri Lanka’s social sector organisations is high, and there is room to facilitate domestic giving”, said Dr. Asanka Wijesinghe, Research Fellow of the Institute of Policy Studies of Sri Lanka. “Sri Lanka has faced—and will continue to face—many challenges. It will be important to foster trust between the private, public, and social sectors so we can work together to rebuild.”
To join the event, please visit the link: bit.ly/dgi2022srilanka
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
