In brief
Sri Lanka announced the AgriConnect program, backed by $665 million from the World Bank Group and the International Fund for Agricultural Development, to modernise agriculture and connect 900 000 farmers to value chains. The initiative targets a more climate‑resilient, market‑oriented sector, aims to attract up to $170 million in private investment, and reflects the importance of agricultural output to the nation’s GDP and exports.
In Colombo, Sri Lanka on Friday launched the AgriConnect program, an investment plan totaling $665 million backed by the World Bank Group and the International Fund for Agricultural Development (IFAD). The announcement came from officials at the Agriculture Development Ministry, the news outlet Xinhua reported at 11:23 UTC.
The World Bank Group will provide $550 million in investment support, while IFAD will contribute $115 million. The program is designed to modernise the country’s agriculture sector and strengthen its contribution to the national economy.
Officials said the integrated implementation plan will connect 900 000 farmers more closely with agricultural value chains by 2030 through digitalisation and other modernization measures. The focus is on turning the sector into a more climate‑resilient and market‑oriented industry.
Part of the strategy includes the deployment of digital tools to help smallholder farmers access information, financing, and markets. The plan also seeks to upgrade infrastructure, farm equipment, and production techniques across the island.
The Ministry announced an additional goal of attracting up to $170 million in private‑sector investment over the next five years. This private capital would be directed toward agribusinesses that integrate with the new value‑chain platforms set up under AgriConnect.
Figures released at the launch highlighted the sector’s importance to Sri Lanka’s economy. Agriculture and food account for about 15 percent of gross domestic product, 30 percent of merchandise exports and roughly one third of total employment, officials noted.
In a statement, the Agriculture Development Ministry said the program would foster more sustainable practices and improve the livelihoods of smallholders. Xinhua reported that the initiative is part of a broader effort to modernise the country’s food system.
While the announcement did not include individual farming communities or reasons for the seeding of specific regions, the government plans to roll out digital platforms in rural districts first. This rollout will aim to give farmers the same market‑oriented tools used by exporters and large‑scale producers.
Key to the plan’s success will be the collaboration between the government, international donors and private companies. The $665 million investment is expected to serve as a catalyst that bridges existing gaps in market access, technology, and resilience to climate change.