SRI LANKA LAUNCHES NATIONAL CLIMATE FINANCE STRATEGY

The Cabinet of Ministers has approved the Sri Lanka National Climate Finance Strategy (2025–2030), a plan designed to attract private investment for climate-resilient and low-carbon sectors.

Sri Lanka has been identified by the Global Climate Risk Index as a country highly vulnerable to severe weather events, with estimated annual losses exceeding 2% of its GDP. According to a government spokesperson, the country needs to invest about $500 million annually in climate-resilient infrastructure to counter these risks, a figure the national budget cannot sustain.

The new strategy aims to secure significant investments in renewable energy, agriculture, fisheries, and resilient infrastructure. It will provide a structured framework to attract green investments beyond traditional government funding.

The strategy was developed with assistance from the UNDP by the Department of External Resources and the Department of National Planning. It also received contributions from 35 government institutions, including the Ministry of Environment, the Department of Wildlife Conservation, and the Department of Forests. The proposal for the strategy was submitted by the President, acting in his capacity as Minister of Finance, Planning and Economic Development.