Sri Lanka, July 1 -- The World Bank's Board of Executive Directors approved USD 150 million to back a reform agenda focused on enhancing investment, competitiveness, and job creation in Sri Lanka.

Known as the Sri Lanka Reforms for Growth, Resilience and Openness Development Policy Operation (REGROW DPO), this initiative serves as the first in a three-part series. It follows the previous Resilience, Stability and Economic Turnaround (RESET) series, moving the national focus from economic stabilisation toward long-term growth.

The REGROW series assists government efforts to improve economic governance and competitiveness, which are essential for private sector expansion. This initial operation provides budget support tied to reforms such...