WB interested in tea sector but proposals still premature
View(s):The World Bank (WB) this week confirmed that it has recently engaged with relevant Sri Lankan authorities and key stakeholders in the tea plantation sector to better understand the constraints the sector is facing.
In a statement which it said clarifies a “media report” on the bank’s involvement in modernising the plantation sector in Sri Lanka, the WB said the engagement also entailed how the bank should participate in the consultations on the possible ways forward to strengthen productivity, competitiveness and sustainability in the sector.
“Bank-supported interventions would require further detailed deliberations and it is premature for the bank to confirm any specific financial proposals at this stage but the bank is looking forward to working with the Government on this important agenda,” the statement said.
The Business Times last week reported that sizable funding was expected from the WB to revive the plantation sector. The report said in August at a workshop organised by the Plantations Ministry the industry had indicated to WB officials the areas in which they would support assistance.