World Bank focuses on large transformational projects in Sri Lanka

Mukesh Prasad meets President Mahinda Rajapaksa  

The World Bank's Executive Director for Sri Lanka, India, Bangladesh and Bhutan  Mukesh Prasad agreed that the World Bank too has begun to focus more on larger "transformational projects that have a direct bearing on the goals of the country " after President Mahinda Rajapaksa urged the World Bank to focus more on large core projects rather than smaller projects that have a lesser impact.

In a meeting with the world Bank official in Colombo, the President has noted that an example of a successful Bank-funded project is the work done on urban development in Colombo, which has helped lessen the flooding that the city used to experience. President Rajapaksa also requested  Mr.Prasad’s assistance in accelerating the project approval process, noting that it currently takes a very long time for the project documentation to be processed, which causes further delays to the project’s implementation.

While noting that current Bank-funded projects are progressing well, World Bank Executive Director Prasad said, “It should be possible to do more.”