Sri Lanka secures $50M from World Bank for digital reform project

Sri Lanka has finalized financing arrangements with the World Bank Group to secure US $50 million (equivalent in Special Drawing Rights) to support its Digital Transformation Project, the government has announced.

The project is a key part of Sri Lanka’s Digital Economy Strategy 2025–2030, aimed at boosting the efficiency, transparency, and accessibility of public services through digital platforms. It focuses on accelerating the digitalisation of government service delivery, building shared digital infrastructure, and enhancing opportunities for IT firms and digital startups. GovTech Sri Lanka has been designated as the implementing agency, while the Ministry of Finance, Planning and Economic Development will act as the borrower under the funding agreement.

Approval for financing was granted by the Sri Lankan Cabinet in October 2025 after negotiations with the World Bank, reflecting the country’s commitment to modernise public service systems and foster a stronger digital economy. The initiative also aligns with broader reform efforts to improve governance and public sector responsiveness through technology.

This investment is expected to underpin the digital transformation of key government services, promote innovation, and help position Sri Lanka as a competitive digital economy in the South Asian region.

Source: https://news.az/news/sri-lanka-secures-50m-from-world-bank-for-digital-reform-project