12 July 2024 01:33 am Views - 194
Sri Lanka’s agriculture sector came under fresh spotlight with the Asian Development Bank (ADB) carrying out a consultation mission to bring in the necessary reforms.
The mission, hosted by the Ceylon Chamber of Commerce (CCC) aims to prepare an investment project to bolster Sri Lanka’s agribusiness sector through targeted investments, technical support, and policy reforms.
The Ceylon Chamber brought together key stakeholders in the agriculture ecosystem to consult with the ADB Mission on the scope and implementation arrangements of the proposed project to support agriculture value chain financing and commercialisation.
The consultation focused on three main components crucial to the sector’s transformation: expanding credit access for agribusiness entrepreneurs, providing advisory and financial services for entrepreneur and business development, and identifying required policy reforms to support agribusiness growth.
The discussions emphasised broader developmental goals, such as addressing under-nutrition in South Asia, where the region accounts for almost half of the world’s undernourished population.
By strengthening agri-food value chains, the project aims to contribute significantly to improving food security and resilience in the region.