Economy

Rs. 5.8bn World Bank-backed project to rehabilitate 296 irrigation tanks

Published

18 hours ago

September 6, 2026

Sri Lanka has begun rehabilitating 296 minor irrigation tanks under a World Bank-funded programme aimed at strengthening irrigation infrastructure and improving climate resilience.

More than Rs. 5.8 billion has been allocated for the work under the Integrated Rurban Development and Climate Resilience Project (IRDCRP), which is planned to continue until 2029.

Of the 296 tanks, 290 are located across 18 districts and were damaged by Cyclone Ditwah. About Rs. 5.58 billion has been allocated for their rehabilitation under the project’s Contingent Emergency Response Component.

The largest number of affected tanks is in Badulla, where 97 are being rehabilitated, followed by Ratnapura with 29, Mannar with 24 and Kurunegala with 19. Fifteen tanks each are being rehabilitated in Kandy and Vavuniya.

A further six minor irrigation tanks in Polonnaruwa, Hambantota and Jaffna are also being rehabilitated at a cost of about Rs. 256.2 million.

Economy

Sri Lanka exports to India grow 7.2% to USD 669mn in first seven months

Published

3 days ago

September 4, 2026

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Sri Lanka’s merchandise exports to India increased by 7.22% year-on-year during the first seven months of 2026, reaching US$669.36 million, according to data from the Export Development Board (EDB).

Exports to India during the January-July period rose from US$624.31 million recorded during the corresponding period of 2025.

In July alone, exports to India increased by 9.12% year-on-year to US$129.51 million, compared with US$118.69 million in July 2025.

The EDB said the cumulative growth in exports to India was mainly supported by increased shipments of boilers, piston engines, pumps and vacuum pumps, petroleum oils, animal feed and base metal products.

The growth also came amid a broader expansion in Sri Lanka’s exports to the South Asian region.

Exports to South Asian markets increased by 11.98% year-on-year to US$916.55 million during the January-July 2026 period.

Economy

Sri Lanka’s total public debt reaches USD 97.952 billion

Published

6 days ago

September 1, 2026

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Sri Lanka’s total public debt stood at US$97.952 billion (Rs. 32.977 trillion) as of June 30, according to the latest report issued by the Public Debt Management Office (PDMO) of the Ministry of Finance.

The report, issued by the Public Debt Management Office states that as of June 30, the government’s debt alone amounted to Rs. 31.999 trillion, or US$95.047 billion.

In addition, the report records US$20 million in debt owed by provincial councils and provincial institutions, while US$2.885 billion represents debt of state-owned enterprises backed by government guarantees.

Economy

Rs. 80 Billion Allocated To Introduce Electric Trains in Sri Lanka

Published

7 days ago

August 31, 2026

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A sum of 80 billion rupees has been allocated for the project to introduce electric trains in Sri Lanka next year.

According to Railway General Manager Ravindra Padmapriya , speaking to News First’s “Dawase Vimasuma”, Sri Lanka is launching a major initiative to develop electric railways as a modern suburban transport system, with infrastructure plans finalized and construction targeted to begin next year.

The initial development focuses on major commuter lines connecting Colombo (Maradana) to key suburbs such as Ragama, Panadura, and Malawatta, alongside other regional extensions.

An estimated budget of 80 billion rupees has been allocated for this expansive infrastructure development. Ultimately, the shift toward electric trains aims to provide an efficient, fast, and eco-friendly transportation network for daily commuters.