Sri Lanka ‘likely to see $100m from Canada diaspora’

COLOMBO: Sri Lanka is likely to see $100 million infrastructure investment by Canadian diaspora into Small and Medium Enterprises (SMEs) State Minister of Foreign Affairs Tharaka Balasuriya said.

The minister said this after meeting a visiting Canadian diaspora group this week.

“A $100 million infrastructure investment is likely to be finalized,” said Balasuriya without elaborating.

Sri Lanka is looking to bring in more foreign investment from Diasporas from Canada, United Kingdom, United States and United Arab Emirates.

The move comes as a part of attracting more foreign inflows into the country which has defaulted sovereign debts amid an economic crisis.

The Chairman of the Sri Lanka Business Convention of Canada, Ganesan Sugamer said, his diaspora group is willing to help Sri Lanka to come out of the crisis through investing in SMEs, bring business, create confidence, stability, employment and give publicity for ventures in the island.

The Canadian diaspora group had discussions with President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena regarding their plans of investment.