Sri Lanka Launches AgriConnect Plan to boost farm incomes, jobs and food security

The plan will help 900,000 farmers gain better access to agricultural value chains by 2030, backed by $550 million in World Bank Group investments and $115 million from IFAD.

Sri Lanka has launched the AgriConnect Joint Implementation Plan with the World Bank Group and the International Fund for Agricultural Development (IFAD) to strengthen its agrifood sector, create jobs and improve food security. The initiative seeks to move the country beyond producing agricultural commodities towards businesses that generate greater value and stronger opportunities for rural communities. Its work will connect farmers with finance, technology and markets, supported by closer cooperation between public institutions, development partners and private businesses.

The plan will help 900,000 farmers gain better access to agricultural value chains by 2030, backed by $550 million in World Bank Group investments and $115 million from IFAD. It is expected to help mobilise up to $170 million in private capital over the next five years, expanding the funding available for farmers and agribusinesses. These investments will support a sector where agriculture and food processing account for at least 15% of national GDP, 30% of goods exports and one in three jobs.

Sri Lanka is the first country in South Asia to officially join AgriConnect, bringing farmers, agribusinesses, financial institutions and development partners into a shared programme. The plan aligns with the government's national development agenda, its Public Investment Programme 2026–2030 and the World Bank Group's Country Partnership Framework. Its priorities include making food production more productive, resilient to climate pressures and responsive to market demand, with greater economic opportunities in underserved areas.

Finance and technology to help rural businesses grow

Prime Minister Dr. Harini Amarasuriya described farmers, fishers and rural communities as partners in building a stronger economy, linking the plan to government investment and better rural jobs. IFC Regional Vice President for Asia and the Pacific Sarvesh Suri highlighted Sri Lanka's competitive agricultural products and entrepreneurial potential, stressing the need for finance, technology and market access to help businesses expand. The initiative will support agricultural finance, digital agriculture and agricultural technology, together with cold chains, connectivity, climate-resilient irrigation, skills and research.

Export crops and regional opportunities receive attention

AgriConnect will focus on value chains with strong potential for processing, higher-value products and exports, including coconut, cinnamon, tea and fisheries. Dairy, poultry, aquaculture and horticulture are part of the programme, which will support greater economic opportunities in lagging regions, including the Northern and Eastern Provinces. Stronger coordination between government, development partners and businesses is intended to address policy barriers and financing constraints that hold back investment and business growth.

Existing projects provide a starting point for delivery

Implementation has begun through the Integrated Rurban Development and Climate Resilience Project, financed by the International Development Association, which connects commercially viable businesses led by smallholder farmers with better financing and more lucrative markets through productive partnerships. IFC, the World Bank Group institution focused on the private sector, is supporting the competitiveness and export potential of the cinnamon and coconut industries, alongside direct investments and financial-sector risk-sharing facilities that expand agribusiness access to finance. IFAD Associate Vice-President for Country Operations Donal Brown stressed the importance of ensuring investment reaches smallholders and the earliest stages of food systems, turning partner financing and expertise into rural jobs and greater resilience against future shocks.