Pathfinder Foundation in collaboration with Visa hands over report to Finance Minister

From left: Visa Country Manager Sri Lanka and the Maldives Avanthi Colombage, Pathfinder Foundation Senior Visiting Fellow Rajendra Theagarajah, Finance Minister Basil Rajapaksa, MMBL-Pathfinder Director/CEO K. Balasundaram and Pathfinder Foundation Executive Director Mamta Ameera Arooz

Pathfinder Foundation Senior Visiting Fellow Rajendra Theagarajah led a small work group to examine the implications of the April 2019 terror attacks and subsequent COVID-19 pandemic on the micro and small and medium enterprise (SME) segment and tourism/inbound leisure sector-related supply chains.  

The study also took the opportunity to examine the current state of the ‘start-up’ ecosystem, specifically the fintec and agritec players and the opportunities for this sector to energise the MSME/SME segment in contributing meaningfully towards the economic revival of Sri Lanka. 

Visa, the global leader in digital payments, joined the Pathfinder as a strategic partner in bringing local and global insights relating to the role of ‘digitalisation’ in the 
above conversation. Knowledgeable and experienced persons ranging from policymakers, private sector and business chambers were invited as panellists at the three workshops moderated by Theagarajah as a part of the study. 

The Pathfinder Foundation earlier submitted a comprehensive list of recommendations for consideration by the Government of Sri Lanka in July of 2020, which was captured under ‘Beyond the Box: A New Economic Vision for Post-COVID-19 Sri Lanka’.

This report, which was handed over to the newly appointed Finance Minister Basil Rajapaksa, at his ministry, focuses on identifying essential elements and “pain points” for micro/SME enterprises, new generation of emerging fintec and agritec entrepreneurs and businesses involved in tourism/inbound travel-related ventures. It suggests ways and means of how digitalisation can contribute towards energising these businesses and fostering Sri Lanka’s future economic revival. The knowledge and expertise of a global leader such as Visa in the area of digital payments further strengthens the recommendations identified. 

The report also takes cognisance of some of the macro strategic recommendations made in the Pathfinder’s July 2020 submission. The six key recommendations identified in the report are categorised as short-term operational interventions and medium/long-term policy interventions. 

A copy of the report can be accessed at https://www.facebook.com/pathfinderfoundation.