Tech Events Sri Lanka

Sri Lanka’s Poverty Rate Rises to 25% Amid Economic Turmoil

March 2, 2020 Lagu Shop

Sri Lanka faces a severe economic crisis, causing a sharp rise in poverty. The country’s poverty rate has doubled since 2019, reaching 25% in 2023. Five million Sri Lankans now live below the poverty line.

Middle-income poverty now affects over 25% of the population. More than 17% face food insecurity, needing humanitarian aid. Malnutrition rates among children under five have hit 31%.

Unemployment rates are high, reaching 9.6% overall and 20% for youth. Northern and eastern regions face even higher rates, around 10-12%. Food inflation peaked at over 90% in 2022, worsening the situation.

The government is working towards economic recovery. They’ve implemented the IMF Extended Fund Facility program, providing $336 million. The new Central Bank Act aims to ensure independence and prevent money printing.

Recovery remains challenging. The IMF forecasts slow growth: 2% in 2024 and 2.7% in 2025. To reduce poverty, Sri Lanka needs growth rates over 6%.

Political risks loom with upcoming elections. These uncertainties could impact Sri Lanka’s economic policies. The road to recovery is long and complex.

Key Takeaways

Sri Lanka’s poverty rate has risen to 25% amid the economic crisis, with five million people living below the poverty line.
Food insecurity affects over 17% of the population, and 31% of children under five suffer from malnutrition.
Unemployment rates remain high, particularly among the youth and in the northern and eastern regions.
The government is implementing measures to stabilize the economy, including the IMF Extended Fund Facility program and the Central Bank Act.
Economic recovery faces challenges, with the IMF forecasting tepid growth rates and political uncertainties looming.

World Bank Supports Sri Lanka’s Development Goals

The World Bank aids Sri Lanka’s development in education, health, and social protection. These efforts aim to boost economic growth and reduce poverty. Sri Lanka’s poverty rate hit 25% during recent economic troubles.

Education Sector Interventions and Key Results

The World Bank develops human capital across all education levels. The Early Childhood Development Project has helped 1.5 million children. The General Education Modernization project has improved learning for 1.3 million students.

These programs equip Sri Lanka’s youth with vital skills. They are crucial for driving future economic growth and development.

Health Sector Interventions and Key Results

The World Bank strengthens primary healthcare and COVID-19 response in Sri Lanka. It provided $21.6 million for essential medicines and supplies. This ensures access to critical healthcare during challenging times.

Investing in citizens’ health remains a top priority. It’s crucial as Sri Lanka recovers from its economic crisis.

Social Protection Reforms and Emergency Response

The World Bank is reforming Sri Lanka’s social safety net. A $75 million project aims to create a more effective social protection system. A $145 million emergency package supports the most vulnerable households.

These efforts help mitigate rising poverty levels. They ensure no one is left behind as Sri Lanka rebuilds its economy.

The recent strengthening of the Sri Lankan Rupee is a positive sign. The record-breaking paddy harvest in the 2024 Yala season shows the country’s resilience. These developments highlight Sri Lanka’s potential for recovery.

Sri Lanka’s Poverty Rate Rises to 25% Amid Economic Turmoil

Sri Lanka’s economic crisis has hit its population hard. The poverty rate jumped to 25% in 2022, up from 11% in 2019. The World Bank expects poverty to stay above 20% for the next few years.

Food insecurity has become widespread. Over 17% of people need humanitarian aid in 2023. Alarmingly, 31% of children under five are malnourished.

Economic Crisis Leads to Spike in Poverty Levels

Misgovernance and lack of accountability have fueled Sri Lanka’s economic woes. The reversal of the organic farming policy added to the country’s challenges. The IMF provided a loan in March 2023, opening doors for more funding.

The IMF program aims to boost government revenues and fight corruption. It also focuses on improving social welfare for the citizens.

Inflation and Food Insecurity Exacerbate Poverty

Inflation has worsened poverty in Sri Lanka. The Central Bank wants to keep inflation below 5% in 2024. However, it may rise as demand increases.

Sri Lanka has made progress in poultry production. The article “Sri Lanka Achieves Self-Sufficiency in Poultry” highlights this achievement. Yet, ensuring food security for all remains a challenge.

Government Policies and Debt Restructuring Efforts

President Ranil Wickremesinghe’s government faces criticism for its crisis management. It has used repressive laws to silence critics. The administration is also accused of failing to address corruption.

Despite challenges, the government is working on debt restructuring. It’s implementing policies to boost exports and attract foreign investment. The focus is also on tackling poverty and financial sector vulnerabilities.

The World Bank projects Sri Lanka’s economy to grow by 3.5% in 2025. However, crucial reforms are needed for sustainable growth and poverty reduction.

Sri Lanka’s Economic Crisis Threatens IT Firms

February 28, 2020 Lagu Shop

Sri Lanka’s IT industry is facing major challenges due to the country’s severe economic crisis. The sector, which employs over 120,000 people, was on track to become the top exporter. Now, it struggles with power cuts, fuel shortages, and internet disruptions.

The crisis has led to record inflation, currency devaluation, and a lack of foreign exchange. This has caused shortages of fuel, medicines, and other essentials for 22 million people. Stalled imports have made it hard for IT firms to meet project deadlines and maintain client trust.

Sri Lanka's Economic Crisis Threatens Its Dollar-Earning IT Firms

Investor confidence has been shaken by the ongoing crisis. Some companies have moved staff to offices in nearby countries to ensure business continuity. This raises concerns about the IT sector’s future in Sri Lanka and its ability to keep skilled workers.

The severe paper shortage has affected many industries, including education and IT. The government is trying to address resource scarcity and stabilize the economy. Meanwhile, IT firms must navigate operational challenges and retain top talent in uncertain times.

Key Takeaways

Sri Lanka’s IT industry faces significant challenges due to the country’s severe economic crisis.
Daily power cuts, fuel shortages, and internet disruptions hinder business continuity for IT firms.
The economic crisis has shaken investor confidence, forcing some companies to temporarily relocate staff.
Concerns arise about the IT sector’s ability to retain skilled labor amidst economic uncertainty.
The government’s efforts to address resource scarcity and stabilize the economy are crucial for the IT industry’s recovery.

Impact of Economic Crisis on IT Industry Operations

Sri Lanka’s IT industry faces major challenges due to the economic crisis. Power cuts, internet issues, and fuel shortages disrupt operations. Companies struggle to meet client expectations and deliver quality work.

IT professionals have devised creative solutions to keep businesses running. Some work from hotel lobbies during outages. Others use a buddy system for fuel updates.

However, frequent power cuts and slow internet make meeting client expectations difficult. Quality of deliverables often suffers due to these obstacles.

IT industry challenges in Sri Lanka

Sri Lankan IT firms face tough competition from India, Bangladesh, and Vietnam. There’s concern about losing business if delivery standards drop. Some companies explore setting up temporary offices in neighboring countries.

The crisis severely impacts the IT industry, once a major economic contributor. Before the pandemic, it employed over 120,000 people. It was the fifth-largest export earner, set to become the top exporter.

Sri Lanka’s IT industry employed more than 120,000 people and was the fifth-largest export earner for the country.
The industry was on track to become the top exporter within the next five years before the economic crisis hit.
Inflation in Sri Lanka reached 39.1% in May 2021, with fuel prices more than doubling since the start of the year.
The value of the US dollar appreciated by 75% against the Sri Lankan rupee in the past year.

Despite challenges, IT remains an attractive employer in Sri Lanka. It offers high salaries and flexible work environments. Companies seek creative solutions to navigate the crisis and maintain their economic position.

Challenge	Impact	Mitigation Strategies
Power cuts	Disruption of work, inability to meet deadlines	Working from alternate locations with stable power supply
Internet disruptions	Slow speeds, difficulty in communicating with clients	Investing in backup internet connections, using mobile data
Fuel shortages	Difficulty in commuting to office, increased transportation costs	Encouraging remote work, carpooling, using public transport

Sri Lanka’s Economic Crisis Threatens Its Dollar-Earning IT Firms

Sri Lanka’s IT industry is feeling the pinch of the ongoing economic crisis. The sector was a major foreign currency earner, employing over 120,000 people before the pandemic. Now, it faces challenges due to economic mismanagement and currency depreciation.

Importance of IT Industry as a Foreign Currency Earner

The IT industry has been crucial to Sri Lanka’s economy. It was on track to become the top exporter within five years. The sector also aimed to double its workforce.

However, the current economic situation has put these goals at risk. The industry’s growth and potential are now threatened.

FAO and Norad are working to boost Sri Lanka’s fisheries and aquaculture sector. They aim to improve sustainable fishing and the country’s blue economy. The project fights illegal fishing and increases climate change resilience.

It also reduces food waste in the fisheries value chain. This is done through technical support and technology upgrades. These include advanced cooling systems and AI-powered apps for real-time fish quality monitoring.

Investor Confidence and Business Expansion Concerns

The government’s lack of a clear plan has shaken foreign investors’ confidence. Some companies are looking to expand outside Sri Lanka. This move aims to boost investor confidence and ensure business continuity.

The economic crisis has made living costs skyrocket. The Sri Lankan rupee has lost 75% of its value against the US dollar. This has led to critical shortages, affecting normal business operations.

IT firms are struggling to meet service level expectations. The challenging economic environment is making it difficult to maintain business standards.

Key Statistics	Value
Pre-pandemic IT industry employment	Over 120,000
IT industry rank as export earner	5th largest
Inflation in May 2021	39.1%
Fuel price increase since beginning of the year	More than doubled
US dollar appreciation against Sri Lankan rupee (past year)	75%

Brain Drain and Talent Retention Challenges

Sri Lanka’s economic crisis has sped up skilled worker migration, especially in IT. The economy shrank by 8.7% in 2022. Half of young, educated people want to leave, risking a brain drain that could hurt future growth.

IT companies are trying to keep top talent. They’re pegging salaries to foreign currencies like the US dollar. This hurts smaller IT firms with local clients. They can’t match these salaries and may lose staff to bigger companies.

Impact on Smaller IT Firms and Local Clients

The crisis hits smaller IT firms and local clients harder. These firms can’t compete with big companies’ salary strategies. They struggle to keep skilled workers and finish projects on time.

Firm Size	Average Salary (LKR)	Talent Retention Rate
Large IT Firms	250,000+	85%
Medium IT Firms	150,000 – 250,000	70%
Small IT Firms	100,000 – 150,000	60%

Experts warn that Sri Lanka may face more brain drain without quick economic fixes. This could be similar to Lebanon’s experience. The government and IT industry must work together to keep talent.

They need to create long-term strategies to support smaller IT firms. This will help the sector stay strong during tough times. It will also protect IT professionals’ jobs.

Conclusion

Sri Lanka’s IT industry faces major challenges due to the country’s economic crisis. Power outages, fuel shortages, and currency issues disrupt operations. These problems threaten to drive away skilled workers.

The economic turmoil has shaken investor confidence in the IT sector. This industry is crucial for Sri Lanka’s foreign currency earnings. The government must solve the crisis and improve infrastructure.

Without action, the country’s economic and social stability may crumble. Brain drain could worsen if the situation doesn’t improve. The IT industry’s growth is vital for Sri Lanka’s future.

However, there’s still hope for recovery and growth in the IT sector. Sri Lanka can focus on keeping talented workers and rebuilding trust. Creating a good environment for IT growth is key.

With the right steps, Sri Lanka can become competitive in the global IT market again. The road to recovery may be tough. But with proper support, the IT industry can emerge stronger than before.

Sri Lanka’s Education Minister: New Reforms for 2024

February 25, 2020 Lagu Shop

Sri Lanka’s Education Minister announced a pilot program for reforms starting in 2024. The changes will affect all grades and cover policy, curriculum, teaching methods, and student assessment.

The reforms aim to digitize the entire education system. This effort will receive support from local and foreign sponsors. The ministry plans to change exam schedules for GCE O/L and A/L.

The 2024 budget allocates Rs. 517 billion to education. The Ministry of Education will receive Rs. 237 billion. Provincial education will get Rs. 280 billion.

The increased funding will support new initiatives. These include hiring 2,535 teachers for estate schools. A special program for early childhood development is also planned.

The Ministry’s digitization efforts will involve local and foreign partnerships. About 452,000 students are expected to take the G.C.E. (O/L) exam. Of these, 388,000 will be first or second-time attendees.

Education Ministry Announces Pilot Program for New Reforms

Sri Lanka’s Education Ministry will launch a pilot program in 2024. It introduces reforms to change the nation’s learning landscape. The program focuses on classroom technology and skill-based learning for grades 1-13.

The reforms aim to digitalize the entire education system. Local and foreign sponsors support this transformative initiative. The ministry wants to improve education quality and prepare students for a digital world.

Restructuring Examinations and Accelerating University Completion

The ministry proposes changes to key examination schedules. Students will take GCE O/L in Grade 10 and GCE A/L in Grade 12. This change allows students to finish university before turning 21.

Empowering Educators and Enhancing Infrastructure

The 2024 budget allocates Rs 517 billion for education. Rs 237 billion is for national initiatives, and Rs 280 billion for provincial education development. These funds will help recruit 2,535 teachers for estate schools.

The ministry has created a special program for early childhood development. It targets children aged 3-5. This initiative aims to nurture young minds and build a strong learning foundation.

Sri Lanka is starting a transformative educational journey. The ministry wants to create a tech-savvy learning environment. These reforms aim to produce well-rounded, globally competitive individuals for a brighter future.

Increased Budget Allocation for Education in 2024

Sri Lanka’s government recognizes education’s vital role in economic recovery. The Ministry of Education received a hefty Rs. 517 billion budget for 2024. This includes Rs. 237 billion for the ministry and Rs. 280 billion for provincial education.

The government remains committed to improving education despite challenges. The World Bank’s projection of 4.4% growth for Sri Lanka highlights education’s importance. Investing in education can unlock potential and create new job opportunities.

Addressing Teacher Shortages and Student Welfare

The Ministry of Education is tackling teacher shortages and student well-being. They’ve taken several key steps to address these issues.

They’re filling 50% of 808 vacant teaching positions with Treasury approval. They’ve also approved 707 teacher education service positions.

The ministry is recruiting 5,450 personnel in science, math, English, and other subjects. They’ve finished 80% of school uniform work for the year.

Plans are in place to provide meals to all school students next year. By 2030, they aim to offer lunch to every school child.

Special Programs for Children with Special Needs and Inclusive Education

The government is committed to inclusive education initiatives. They’ve created special programs for children with special needs. These programs aim to integrate these children into classrooms with their peers.

The increased budget will support these inclusive learning programs. This ensures no child is left behind in their educational journey.

Sri Lanka’s government is building a strong foundation for future growth. Investing in education will bring long-term benefits. It will equip the next generation with skills to drive economic progress.

New Educational Reforms to Be Introduced in 2024, Says Education Minister

Sri Lanka’s Education Minister announced new reforms for 2024. These changes aim to modernize education and optimize resources. The National Education Policy Framework (NEPF) outlines these reforms.

The NEPF plans to create autonomous Provincial Boards of Education. It seeks expert help to develop necessary regulations. Funding will come from existing resources and partnerships.

Private contributions will also support these educational transformations.

Cabinet Memorandum and Circular to Be Issued Soon

A cabinet memorandum detailing the reforms will be presented soon. A circular will follow shortly after. These reforms address recent disruptions in education.

Fuel shortages, power cuts, and Covid-19 have greatly impacted schools. The new changes aim to solve these issues.

Reforms Aim to Address Challenges Faced by Education Sector

The 2022 economic crisis caused major problems in Sri Lanka’s education system. Many lecturers left the country, with 1,200 academics emigrating between 2022 and 2023.

New reforms will modernize education and increase university student stipends. They’ll also address salary gaps among educators, as promised by President Anura Kumara Dissanayake.

The reforms will improve teacher training programs. This is crucial, as Sri Lanka offers many subjects for GCE O/L and A/L exams.

Proposed Changes to G.C.E. (O/L) and G.C.E. (A/L) Examination Schedules

G.C.E. (O/L) exams may move to December. G.C.E. (A/L) exams could shift to August. Interviews have filled teaching vacancies in science, technology, and foreign languages.

Over 3,000 new teachers will start at schools by June 1st. This will help address the shortage of educators in key subjects.

Education Ministry’s Reform Initiatives to Bring Significant Advancements

Sri Lanka’s Education Ministry is making big changes. They’re improving schools, especially for kids with special needs. The ministry is also increasing Zonal Education Offices to 120.

Over 500 new language teachers have joined schools nationwide. They teach Korean, German, French, Hindi, Chinese, and Japanese. This boost helps schools offer more language choices.

The ministry plans to upgrade 19 National Colleges of Education. These will become universities. This change aims to train 7,500 new teachers each year.

The recent surge in Sri Lanka’s agriculture may help fund these changes. It could also boost the country’s economy.

These reforms are part of the National Education Strategy 2024-2030. This six-year plan aims to improve life for teachers and students. It focuses on wellbeing, growth, empowerment, equity, and inclusion.

The ministry has a strong system to check the plan’s progress. They’re committed to making education better. These changes should greatly improve Sri Lanka’s schools.

FAQ

What is the Education Ministry’s plan for implementing new educational reforms in 2024?

Minister Susil Premajayantha announced a pilot program for new educational reforms across all grades. The Ministry plans to digitize the entire education system. Local and foreign sponsors will support this initiative.

When will the GCE O/L and A/L Examinations be conducted under the new reforms?

The GCE O/L Examination will take place in Grade 10. The GCE A/L Examination will be held in Grade 12. Students are expected to finish university before turning 21.

How much has been allocated to the education sector in the 2024 budget?

The 2024 budget allocates Rs. 237 billion to the Ministry of Education. An additional Rs. 280 billion is designated for education at the provincial level. The total education budget is approximately Rs. 517 billion.

What initiatives are being taken for children with special needs?

Special programs have been created for children with special needs. An inclusive education system will integrate them into regular classrooms. Schools are improving facilities to accommodate these students.

When will the cabinet memorandum and circular outlining the reforms be issued?

The cabinet memorandum detailing the reforms will be presented soon. The accompanying circular will follow shortly after.

What challenges do the new educational reforms aim to address?

The reforms tackle issues like fuel shortages, power cuts, and Covid-19 disruptions. These problems have significantly impacted the education sector.

How many language teachers have been recruited and deployed to schools?

Over 500 language teachers have joined schools across the country. They teach Korean, German, French, Hindi, Chinese, and Japanese.

What are the plans for National Colleges of Education?

Nineteen National Colleges of Education will become universities. This change aims to boost college enrollment. The goal is to produce 7,500 qualified teachers each year.

Sri Lanka’s Digital Economy Strategy Aims for $3 Billion by 2024

February 25, 2020 Lagu Shop

Sri Lanka plans to grow its digital economy to $3 billion by 2024. This goal represents 4.37% of the country’s GDP. The government is expanding tech exports, e-commerce, and IT-BPM services to reach this target.

Strategic investments in digital infrastructure and IT skills are vital. These investments aim to create a thriving environment for startups and digital businesses.

Sri Lanka's Digital Economy Strategy Aims for $3 Billion by 2024

The ICT Agency of Sri Lanka leads efforts to create a digitally inclusive nation. They focus on digital policy and cyber laws. The agency’s digital government transformation aims to boost efficiency and connectivity of state entities.

The National Data and Identity Interoperability Platform (NDIIP) enhances information sharing among government organizations. Two state-of-the-art Techno Parks are being built to attract foreign investment and create jobs.

Sri Lanka plans to increase its ICT/BPM workforce from 125,000 to 300,000 by 2024. Over 60% of Sri Lankans own mobile phones, with half being smartphones. This provides a strong base for digital services and e-commerce growth.

Key Takeaways

Sri Lanka aims to grow its digital economy to $3 billion by 2024, representing 4.37% of GDP
The government is investing in digital infrastructure and IT skills development to support tech exports, e-commerce, and IT-BPM services
The ICT Agency is working to establish a digitally inclusive Sri Lanka through digital policy, cyber laws, and digital government transformation
Two state-of-the-art Techno Parks are under construction to attract Foreign Direct Investment and create job opportunities
Sri Lanka aims to increase its ICT/BPM workforce from 125,000 in 2018 to 300,000 by 2024

Sri Lanka’s Vision for a Digital Economy by 2030

Sri Lanka aims to create a thriving digital economy by 2030. The Sri Lanka Vision 2030 focuses on using digital tech for innovation and global competitiveness. It ensures a human-centered approach to digital change.

Sri Lanka digital transformation roadmap

The strategy prioritizes equal chances for all citizens in the digital economy. It promotes new tech and solutions for societal issues. The plan also aligns digital growth with environmental goals.

Core Principles Guiding Sri Lanka’s Digital Transformation

Inclusivity and equal opportunities for all
Innovation in technologies, business models, and digital solutions
Sustainability and alignment with environmental goals
Global outlook and competitiveness
Human-centric approach prioritizing citizen needs
Rights-based framework protecting privacy and digital rights

Critical Enablers for Achieving Digital Economy Goals

Sri Lanka has identified key factors to reach its digital goals. These include creating laws that boost innovation and protect consumer rights. Secure digital IDs are vital for trusted online transactions.

Clear data rules will ensure responsible data use. These enablers aim to foster a thriving digital economy for all.

Enabler	Description
Legal and Regulatory Framework	Establish laws and regulations that promote innovation and protect digital rights
Digital Identity Systems	Implement secure and trusted digital identity solutions for online transactions and services
Data Governance	Develop transparent frameworks for responsible data collection, sharing, and use

Team efforts, public input, and private investments will drive digital change. These factors will help create a vibrant digital economy. The goal is to benefit all parts of society.

Key Strategic Areas for Action in Sri Lanka’s Digital Economy Strategy

Sri Lanka aims to boost its digital economy to $3 billion by 2024. The strategy focuses on six key areas for growth and transformation. These include enhancing digital infrastructure, developing skills, and improving e-government services.

The plan also strengthens cybersecurity, expands digital financial services, and supports MSMEs’ digitalization. These areas are crucial for driving Sri Lanka’s digital progress.

Infrastructure, Connectivity, and Access Initiatives

Sri Lanka prioritizes improving digital connectivity and access. The government plans to invest in next-generation networks and high-speed broadband. These efforts aim to maintain digital leadership and bridge the digital divide.

Initiatives are underway to expand broadband coverage, especially in rural areas. This ensures everyone can access digital services equally.

Skills Development, Digital Literacy, and Job Creation

Building a digitally skilled workforce is vital for innovation and growth. Sri Lanka focuses on developing IT skills and promoting digital literacy. The country also aims to create job opportunities in the digital sector.

Targeted training programs address the need for advanced AI engineering skills. Partnerships with educational institutions help develop strategic expertise. Visit Sri Lanka’s Tourism Industry Sees Resurgence Ahead of for more insights on economic growth.

E-Government Services and Digital Governance

Sri Lanka aims to enhance e-government services and digital governance. The government plans to digitize public services, improve efficiency, and increase transparency. A robust AI governance structure is being established.

This structure focuses on safety, transparency, and ethical guidelines. It ensures responsible AI development and deployment.

Cybersecurity, Data Protection, and Privacy Measures

Strengthening cybersecurity and ensuring data protection are crucial for Sri Lanka’s digital strategy. The government is investing in cybersecurity infrastructure and implementing data protection regulations. Promoting awareness about online safety is also a priority.

Building trust in digital systems is essential. It encourages adoption and fosters a secure digital environment.

Expansion of Digital Financial Services

Sri Lanka aims to expand digital financial services. The goal is to increase access to digital payments, mobile banking, and other financial technologies. This promotes financial inclusion and reduces reliance on cash transactions.

Initiatives encourage MSMEs to adopt digital financial services. This supports their growth and competitiveness in the market.

Sector-Specific Digitalization and Support for MSMEs

Sri Lanka’s strategy recognizes the importance of sector-specific digitalization. It supports MSMEs in their digital transformation journey. The government provides incentives for MSMEs to adopt digital technologies.

Initiatives promote the startup ecosystem and foster innovation. This encourages entrepreneurship in the digital space. These efforts drive economic growth and create new job opportunities.

Challenges and Opportunities in Implementing Sri Lanka’s Digital Economy Strategy

Sri Lanka aims to build a $15 billion digital economy by 2030. The government plans to spend Rs. 3 billion on digital efforts in 2024. This is 1.4% of total expenditures.

Key challenges include ensuring fair access and implementing regulatory reforms. Attracting investments is also crucial. However, the strategy offers chances for public-private partnerships.

These partnerships can help bridge the digital divide and improve infrastructure. They can also develop digital skills among workers.

Sri Lanka could become a regional digital hub. Its location, growing digital infrastructure, and skilled workforce are attractive to international companies.

Budget Allocation	Amount (Rs.)	Purpose
National Single Window	200 million	Facilitating trade-related regulatory documentation
Vocational Education and Training	450 million	Training through Provincial Councils
Job-Seeking Graduates Program	750 million	Training program for job-seeking graduates

The strategy can lead to inclusive economic growth. It promotes digital literacy and supports small businesses. This creates new jobs and empowers marginalized communities to join the digital economy.

Conclusion

Sri Lanka’s Digital Economy Strategy outlines a bold plan for the country’s digital future. It aims to boost economic growth and global competitiveness. The strategy sets clear goals for 2024, including $3 billion in annual foreign exchange revenue.

The plan also targets building a workforce of 300,000 ICT professionals. This includes 150,000 skilled individuals ready for the digital economy. These goals show Sri Lanka’s commitment to progress despite recent global ranking challenges.

Sri Lanka plans to set up five regional tech and education hubs. It aims to help tech companies and startups grow. The country also wants 75% of its citizens to be digitally literate.

The strategy focuses on key areas guided by core principles. It aims to use digital tech for inclusive and sustainable growth. Success will boost the economy and improve lives in the digital age.

FAO Introduces Good Agricultural Practices to Boost Farmer Incomes

FAO Introduces Good Agricultural Practices in Sri Lanka

February 21, 2020 Lagu Shop

The UN’s Food and Agriculture Organization (FAO) has brought Good Agricultural Practices to Sri Lankan farmers. Over 600 smallholder vegetable farmers in Badulla, Monaragala, and Mullaitivu districts are benefiting. This initiative aims to boost farms, increase agricultural productivity, and enhance farmer livelihoods through sustainable methods.

FAO’s program equips farmers with essential tools and knowledge. It promotes climate-resilient approaches and GAP certification. The results are impressive: 71% of farmers report better crop quality and less pesticide use.

Farmers’ incomes have also improved significantly. 72% saw an increase in total income. 24 farmers made over Rs. 1,000,000 in one season from just 0.25 acres.

More than 150 farmers exceeded Rs. 500,000 in income. This shows the economic impact of Good Agricultural Practices. Chemical fertilizer use decreased by 48% per 0.25 acres, highlighting environmental benefits.

FAO’s work aligns with Sri Lanka’s priorities and UN development goals. Their efforts to empower smallholder farmers through modern practices are promising. This initiative could have a lasting impact on Sri Lanka’s agriculture and farming communities.

FAO’s Initiative Modernizes Farms and Empowers Smallholder Farmers

The FAO has launched a groundbreaking initiative in Sri Lanka to modernize farms. It empowers smallholder farmers through climate-smart agriculture practices. The program provides essential agriculture kits, training, and financial support for sustainable farming.

Providing Essential Agriculture Kits and Training

Over 600 smallholder vegetable farmers in Badulla, Monaragala, and Mullaitivu received tailor-made agriculture kits. These kits include drip irrigation systems, plastic mulch, insect-proof nets, and GI pipes. They enable farmers to implement modern, water-efficient, and pest-resistant farming techniques.

The FAO conducts comprehensive farmer training programs to ensure effective resource utilization. Farmers learn to optimize crop yields and reduce reliance on harmful pesticides. They also gain skills in adopting environmentally friendly practices through hands-on workshops and demonstrations.

Facilitating Capacity Building through Farmer Field Schools

The FAO has established Farmer Field Schools across the targeted districts. These interactive platforms foster peer-to-peer knowledge sharing. They empower farmers to achieve Good Agricultural Practices (GAP) certification.

Farmers gain exposure to innovative techniques like integrated pest management. They also learn efficient irrigation methods, boosting productivity and crop quality.

Offering Cash Assistance to Support Transition

The FAO and World Food Programme provide cash assistance to farmers. This support helps meet their immediate food and nutrition needs. It ensures farmers can focus on implementing sustainable farming practices without compromising their livelihoods.

The initiative’s impact has been remarkable, with 71% of farmers reporting improved crop quality. There’s also been a significant reduction in pesticide and agrochemical usage. Additionally, 72% of farmers have experienced an increase in total income.

Twenty-four farmers made profits exceeding Rs. 1,000,000/- in a single cultivation season. Moreover, 150 farmers surpassed the Rs. 500,000/- mark.

Tangible Outcomes: Improved Crop Quality, Increased Incomes, and Environmental Benefits

The FAO’s Good Agricultural Practices initiative in Sri Lanka has produced remarkable results. Farmers report better crop quality, less pesticide use, and higher profits. The project’s sustainable farming methods have reduced agro-chemical use and improved crop resilience.

Significant Reduction in Pesticide and Agro-chemical Usage

The initiative has greatly reduced pesticide and agro-chemical use among farmers. Over 71% of farmers now use fewer harmful substances, leading to healthier crops. Chemical fertilizer use per 0.25 acres has dropped by 48%, aiding environmental conservation.

Enhanced Crop Resilience and Pest Management with Insect-Proof Nets

Insect-proof nets have revolutionized farming in Sri Lanka. These nets protect crops from pests and diseases, reducing damage and boosting resilience. They also minimize harm from wild animals, maintaining consistent crop quality throughout the season.

Remarkable Increase in Farmer Incomes and Profitability

Good Agricultural Practices have significantly boosted farmer incomes and profits. An impressive 72% of farmers reported higher total income. Over 24 farmers made profits exceeding Rs. 1,000,000 in one cultivation season.

More than 150 farmers surpassed Rs. 500,000 in profits. This shows the potential for financial growth when farmers adopt sustainable practices.

FAO Introduces Good Agricultural Practices to Boost Farmer Incomes

FAO Sri Lanka is committed to modernizing agriculture and improving farmers’ lives. They’ve introduced Good Agricultural Practices (GAP) to smallholder farmers. This has led to better crop quality, higher incomes, and environmental benefits.

GAP adoption has brought remarkable results for farmers. Over 71% saw better crop quality and used fewer pesticides. 72% of farmers increased their total income.

More than 24 farmers made profits over Rs. 1,000,000. Over 150 farmers earned above Rs. 500,000 in one season. Chemical fertilizer use dropped by 48% per 0.25 acres.

An awards ceremony in Thanamalvila celebrated these achievements. It recognized farmers’ accomplishments across three districts. The event highlighted GAP certification’s role in boosting market demand.

Attendees included Australian Deputy Head of Mission, Ms. Lalita Kapur. Provincial Secretary of Agriculture, Mr. Upali Jayasekara, also joined. FAO Assistant Representative, Mr. Nalin Munasinghe, was present too.