Sri Lanka - Completion and Learning Review Validation of the Country Partnership Framework for the Period FY24-FY27

Overview & Synopsis

The FY24-27 CPF was well aligned with the government strategy and addressed the key constraints identified in the 2022 Systematic Country Diagnostic (SCD) Update and 2023 Risk and Resilience Assessment (RRA). The CPF program paired a stabilization-first agenda with targeted human capital and social protection, and integrated climate resilience. High Level Objective (HLO) 1 aimed to restore macro fiscal and financial stability, enhance economic inclusion, and improve the private investment climate to rebuild real incomes and conditions for private sector jobs. HLO 2 aimed to protect and enhance human and natural capital via better targeted cash transfers and primary health care system strengthening to prevent further erosion of welfare among the poor and bottom 40 percent. Corporate priorities, including gender and inclusion, were addressed by monitoring progress in expanding pro-poor transfers and women’s rights. However, jobs outcomes are proxied by indicators for enabling business conditions (trade, digital, State-Owned Enterprise (SOE) reforms) rather than direct, gender-disaggregated employment. Enhancing resilience was a cross-cutting theme of the CPF.