In brief
On Oct. 31, 2026, Sri Lanka launched the AgriConnect program, a $665 million investment from the World Bank Group and IFAD to modernize its agricultural sector. The initiative seeks to connect 900,000 farmers to value chains, attract private investment, and strengthen the industry’s contribution to GDP, exports, and employment. The launch was covered by Xinhua, noting the program’s share of the national economy and future growth targets.
On Friday, Oct. 31, 2026, Sri Lanka launched the AgriConnect program, a $665 million investment backed by the World Bank Group and the International Fund for Agricultural Development (IFAD), according to Xinhua.
Xinhua noted that the program’s integrated plan will connect 900,000 farmers more closely with agricultural value chains by 2030, focusing on digitalization and other modernization measures to make the sector climate‑resilient and market‑oriented.
The World Bank Group will provide $550 million in investment support, while IFAD will contribute $115 million, Xinhua reported, and the program could attract up to $170 million in additional private‑sector investment over the next five years.
According to data released at the launch, Sri Lanka’s agriculture and food sector accounts for about 15 percent of its gross domestic product, 30 percent of merchandise exports and roughly one third of total employment.
Officials emphasized that the initiative aims to transform the country’s agriculture and food industry, making it more resilient to climate change and better integrated with global markets.
The launch marks a significant step in Sri Lanka’s effort to boost economic growth and job creation through targeted investment in rural development, as detailed by Xinhua.