💰 The Economy
📰 World Bank approves USD 1 billion loan for Sri Lanka
Sri Lanka has been granted a USD 1 billion loan by the World Bank to support the development
of its agriculture, tourism, and energy sectors. According to a statement issued on 7 May, the
funding is intended to strengthen key local industries and attract private sector investment to
drive sustainable growth. The announcement followed a meeting in Colombo between World
Bank President Ajay Banga, and Sri Lankan President Anura Kumara Dissanayake.
Link: https://tinyurl.com/42hb2tpu

📰 Sri Lanka records 17.3 percent rise in tourist arrivals in April 2025
According to data released by the Sri Lanka Tourism Development Authority (SLTDA), a total of
174,608 tourists visited the country in April 2025. This represents a 17.3 percent increase
compared to April 2024, which recorded 148,867 arrivals. As a result, the cumulative number
of tourist arrivals for the first four months of 2025 has reached 896,884.
Link: https://tinyurl.com/mrxmmk8z

⚖ Politics & Policy
📰 Government commits to repealing PTA to retain EU GSP+ concessions
Sri Lanka has reiterated its commitment to abolishing the Prevention of Terrorism Act (PTA),
and has provided a timeline for its replacement with new counter-terrorism legislation that
complies with international norms and standards. This information was shared during the 8th
meeting of the Working Group on Governance, Rule of Law, and Human Rights, which took place
on April 5 in Colombo, as noted in a joint media release from the European Union and Sri Lanka.
Link: https://tinyurl.com/3utrsj3f

📰 Prime Minister Meets with President of the World Bank Group
Prime Minister Dr. Harini Amarasuriya met with President of the World Bank Group, Ajay Banga
at the Prime Minister’s Office to discuss Sri Lanka’s development priorities, and the
continuation of strategic collaboration. Discussions focused on investment in critical sectors
such as healthcare, education, agriculture, tourism, and production industries.
Link: https://tinyurl.com/fwmk8be6

📰 CEB to submit new tariff proposals ahead of expected electricity tariff revisions
The Public Utilities Commission of Sri Lanka (PUCSL) has announced that it expects the Ceylon
Electricity Board (CEB) to submit its proposals for the second electricity tariff revision of the
year within the forthcoming week.
Link: https://tinyurl.com/5t4p8b9j

📰 Sri Lanka signs four MoUs with Vietnam
On 5 April, Sri Lanka and Vietnam signed four Memoranda of Understanding (MoUs) and one
bilateral agreement in the presence of President Anura Kumara Dissanayake and Vietnamese
President Luong Cuong. The bilateral agreement focuses on enhancing cooperation and mutual
assistance in customs affairs.
Link: https://tinyurl.com/yck3h8vu

📰 Sri Lanka Customs to publicize names of tax-evaders and entities
Sri Lanka Customs has announced its intention to publish the names of individuals and
institutions found guilty of violating customs laws. According to an official statement, these
names will be made available on the Sri Lanka Customs website as part of a broader initiative
to deter willful tax evasion, ensure the accurate collection of Government revenue, and
strengthen the enforcement of import and export regulations.
Link: https://tinyurl.com/26npbm6s

!? What you need to know
📰 JAAF confident in Government’s commitment to new GSP+ standards
Secretary General of the Joint Apparel Association Forum (JAAF), Yohan Lawrence stated that
the current GSP+ phase is scheduled to conclude in 2027. Countries wishing to participate in
the new scheme will need to submit new applications. He expressed confidence that the Sri
Lankan Government will take the necessary actions to ensure the country qualifies for this
program, particularly in light of the significant impact of exports on Sri Lanka’s economic
recovery.
Link: https://tinyurl.com/yr46fny3

📰 ITSB initiative launched to enhance business transparency and sustainability
‘Improving Transparency for Sustainable Business (ITSB)’, a transformative initiative for the
textile and apparel sector, was launched virtually on 29 April 2025. Supported by the Swedish
Government, the initiative was jointly led by the Global Reporting Initiative (GRI), the
Sustainable Development Council (SDC), and the Joint Apparel Association Forum (JAAF) in Sri
Lanka.
Link: https://tinyurl.com/bdh2jpry

📰 Omega Line wins top Presidential Export Award for 2023/24
Omega Line Ltd. has won the prestigious Merit award in the Large Apparel category at the
Presidential Export Awards ceremony for the year 2023/24, organised by the Sri Lanka Export
Development Board.
Link: https://tinyurl.com/593994dn

📰 MAS celebrates student-led sustainability at Eco Go Beyond Awards
MAS Holdings reaffirmed its commitment to sustainability education and youth empowerment
at the MAS Eco Go Beyond Sustainable Schools Programme 2024 Awards Ceremony, held on 04
April at MAS Athena in Thulhiriya.
Link: https://tinyurl.com/bdw5d6xt

Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only. Please do
not circulate or share on social media. The Advisory includes economic, political, social and
governance perspectives. This Advisory was prepared by the Strategic Communications Unit of
Adfactors PR Lanka. For inquiries, contact sarah.muiz@adfactorspr.com