World Bank Gives $85 million to Sri Lanka for Research and Development

Dec 22, 2016 at 12:00am ET By Alyssa Walker

According to the Daily Mirror, the World Bank will give Sri Lanka $85 million to improve the country’s research and development (R&D).  Why?  There’s limited external funding in the field. 

World Bank Sri Lanka Lead Education Specialist Dr. Harsha Aturupane said, “We will be providing $75 million for higher education through the country partnership framework.”  He explained that Sri Lanka will receive an additional $10 million over three years, which will be granted to the government to offer PhD scholarships at foreign universities for deserving candidates.  Dr. Aturupane also said that the World Bank had given Sri Lanka $800,000 for research and development, but that Sri Lanka needed a bigger boost. 

According to 2010 statistics, Sri Lanka spent 1.6 percent of its Gross Domestic Product (GDP) on R&D—a number much lower compared to the rest of Asia.  World Bank Senior Education Specialist Kurt Larsen told the Daily Mirror, “The country’s GDP is growing faster than research funding.”  He added that most of the R&D funding is spent in the public sector, and not in the private sector—and that the public and private sectors will have to work together to create momentum in R&D. 

Learn more about studying in Sri Lanka

 

 

Alyssa Walker is a freelance writer, educator, and nonprofit consultant. She lives in the White Mountains of New Hampshire with her family.

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