In brief
On 31 October 2026, Sri Lanka announced the AgriConnect program, a $665 million investment from the World Bank Group and the International Fund for Agricultural Development. The initiative intends to link 900,000 smallholder farmers to value chains and attract additional private‑sector capital while making the sector more climate‑resilient and market‑oriented. Outlets framed the effort differently, with Xinhua providing official details and a local report yet to materialize.
On Friday, 31 October 2026, Colombo hosted the launch of the Sri Lanka AgriConnect program, a $665‑million investment backed by the World Bank Group and the International Fund for Agricultural Development (IFAD) that aims to modernize the country’s agricultural sector and deepen its contribution to the national economy.
Xinhua reported that the program will connect 900,000 farmers more closely with agricultural value chains by 2030 through digitalization and other modernization measures. It highlighted that the World Bank will provide $550 million in investment support while IFAD will contribute $115 million, and that the plan intends to attract up to $170 million in additional private‑sector investment over the next five years.
The Xinhua piece framed the programme as a step toward transforming Sri Lanka’s agriculture and food sector into a climate‑resilient, market‑oriented industry. It cited the sector’s contribution of roughly 15 percent of gross domestic product, about 30 percent of merchandise exports, and one third of total employment as a backdrop for the initiative’s importance.
A local report from Lankan News Papers was expected to further detail the program, but a 404 error indicates the page is unavailable, preventing a direct comparison of the local perspective with Xinhua’s official account.
AgriConnect targets smallholder farmers and rural communities, using digital platforms to streamline access to inputs, market information, and financial services. “The integrated implementation plan will help farmers reach new markets and increase productivity,” a government spokesperson said voluntarily before the launch, as reported by Xinhua.
The initiative also intends to turn the agricultural sector into a more secure economic engine by promoting climate‑smart practices such as precision irrigation, diversified cropping, and resilient seed varieties. By aligning with international climate targets, the programme seeks to safeguard livelihoods in the face of increasingly erratic weather patterns.
There is an anticipated boost in private‑sector participation, with the government looking to funnel private investment through public‑private partnerships and incentive schemes. The $170 million earmarked for private capital is to be mobilized over the next five years, potentially amplifying the program’s reach and sustainability.
Given that agriculture accounts for a significant share of exports and jobs, the AgriConnect program represents a major strategic effort to elevate Sri Lanka’s rural economy, increase export competitiveness, and enhance food security while positioning the sector to meet the demands of a global market and climate pressures.