Economy

Sri Lanka to Launch Rainwater Harvesting Pilot Project

Published

12 hours ago

May 16, 2026

Sri Lanka is set to introduce a pilot project focused on rainwater harvesting in a bid to address rising future water demand, Minister of Construction and Water Supply Dr. Susil Ranasinghe announced.

The Minister said the initiative is being planned with a focus on effectively utilising rainwater for non-drinking purposes such as garden landscaping and vehicle washing.

Dr. Ranasinghe highlighted concerns over the sustainability of water supply in the coming years. He noted that within the National Water Supply and Drainage Board’s Western Region alone, there are approximately 1.3 million consumers. He questioned whether, within the next decade, the Water Board would have the capacity to treat and supply sufficient volumes of water to meet growing demand, and whether adequate water resources would remain available in the Kelani River to support this need.

The Minister pointed out that Colombo receives rainfall throughout most of the year, aside from brief dry periods. He stressed the importance of capturing and utilising this rainwater across households, government institutions, and other environments for practical uses.

As part of the initial phase, the government intends to establish rainwater harvesting systems equipped with advanced engineering technology in at least 100 state institutions within the Colombo District. He said this effort is also aimed at sending a broader message to the public on the importance of water conservation.

Economy

PayPal Launched in Sri Lanka to Strengthen the Digital Economy

Published

2 days ago

May 15, 2026

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Marking a significant milestone in Sri Lanka’s journey toward a fully digital economy, PayPal, one of the world’s leading online payment platforms has been introduced to Sri Lanka through integration with the domestic banking system.

The official launch of the service took place under the patronage of Hon. Prime Minister Dr. Harini Amarasuriya.

Aligned with the Government of Sri Lanka’s digital economy vision, the new collaboration between the local banking sector and PayPal was highly commended by the Prime Minister.

This initiative is recognized as a transformative step in positioning Sri Lanka’s digital economy at both regional and global levels. The service will initially be made available to customers through key banking partners, including Bank of Ceylon, Commercial Bank, and Sampath Bank, with several other banks expected to join the initiative in the coming months.

This development enables Sri Lankan consumers, freelancers, entrepreneurs, and emerging businesses to access a secure and trusted international payment system.

The country’s digital economy agenda is primarily focused on fostering inclusive growth and promoting digital entrepreneurship while strengthening Sri Lanka’s integration with global markets.

The expansion of international payment services is expected to significantly support small and medium enterprises (SMEs) in becoming active participants in global trade.

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Economy

Govt Approves Rs.112 B Central Expressway Phase Without New Loans

Published

5 days ago

May 12, 2026

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“Rs. 112 Billion. 100% funded by the Government of Sri Lanka. Zero new loans.”

Minister Bimal Rathnayake says Cabinet approval for the Rambukkana–Galagedera phase of the Central Expressway is proof of Sri Lanka’s economic recovery, adding that what was once a “distant dream” is now a funded reality under the Finance Ministry’s leadership over the past 18 months.

Economy

Sri Lanka’s official reserves fall below US$ 7 billion

Published

1 week ago

May 10, 2026

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Sri Lanka’s official reserve assets fell below the US$ 7 billion mark again in April 2026, according to the latest data released by the Central Bank of Sri Lanka.

The country’s total official reserve assets declined from US$ 7.026 billion recorded at the end of March 2026 to US$ 6.759 billion by the end of April.

Data also showed that foreign exchange reserves — the main component of official reserves — dropped from US$ 6.8 billion to US$ 6.505 billion during the month.

Meanwhile, Sri Lanka’s gold reserves declined slightly from US$ 222 million to US$ 219 million.