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Sri Lanka to move to a middle income status

Mar 29, 2011 5:22:29 AM - itnnews.lk

Sri Lanka is prepared to move from a low income to a middle income status. World Bank Managing Director Dr. Mahmoud Mohieldin has pledged uninterrupted assistance for the country’s development.

Dr. Mohieldin reaffirmed the their commitment to support Sri Lanka, not only financially but in arranging opportunities to tap into the knowledge resources of the World Bank Group, as the country was geared to move from a low income to a middle income status. He also said the Sri Lankan Government is making maximum efforts to divert the benefits of the development works being carried out.
The World Bank Managing Director pointed out that the highly professional cadre is the driving force in Sri Lanka’s economy. He acknowledged Sri Lanka’s achievements in the education and health sectors. However, he said that with Sri Lanka becoming a middle income country, it will face a new set of challenges, including ensuring very high quality education in computer and financial literacy and managing the demographic transition in a way that challenges are turned into opportunities, and maximizing the country benefits from the peace dividend.