IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.
Sri Lanka is a country of paradoxes. The country is currently facing serious economic challenges, but prior to this Sri Lanka’s economic performance since independence had generally been hailed as a success—with the lowest poverty rates, best social indicators, and highest per capita income in South Asia. This performance occurred amidst many distortions and an economy less open than its peers, largely reflecting the strong involvement of the state in the economy. This interventionist model of economic policy served the country well through the years of conflict and their aftermath, but its sustainability is now in question.
Sri Lanka needs new solutions to put its economy back on track. Indeed, even prior to the current crisis, the economy had slowed and progress on social indicators had been stagnating. Market distortions remain and have been exacerbated by the COVID-19 outbreak. Near-term growth prospects have weakened substantially and will be exacerbated by an already challenging environment of low growth and fiscal pressures. The Sri Lanka Country Private Sector Diagnostic seeks to understand how, despite these handicaps, Sri Lanka achieved positive economic and social outcomes in the past and to integrate these lessons into the building blocks of a realistic, forward-looking growth strategy.
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