Sri Lanka to reform PPP unit

The Government of Sri Lanka has announced plans to re-establish its National Agency for Public Private Partnership (NAPPP).

The Government of Sri Lanka has announced plans to re-establish its National Agency for Public Private Partnership (NAPPP).

Announced during an interim budget, President Ranil Wickremesinghe, who also holds the position of Minister of Finance, said the agency will be tasked with “identifying and facilitating investment” through PPPs.

The previous World Bank-supported NAPPP was closed by the recently ousted administration, which was removed amid the country's current financial crisis.

In the speech, Wickremesinghe also said that private sector investment will be driven into the country's railway sector to bolster connectivity and trade.

The government has allocated funding to support the agency’s formation.