Sri Lanka’s economic recovery and the growing opportunities for British investment in the country’s renewable energy and financial sectors took centre stage at an informal briefing session held at the UK Parliament on 23 March, according to a statement released recently.

The All Party Parliamentary Group (APPG) convened to assess Sri Lanka’s economic outlook while examining UK-Sri Lanka relations, with a focus on the island nation’s ongoing economic transformation.

Senior Fellow at ODI Global, Ganeshan Wignaraja, pointed to growing opportunities for UK investment in Sri Lanka’s renewable energy and financial sectors, emphasising their potential for long-term growth and collaboration.

Professor Dirk Willem te Velde, also of ODI Global, contributed to the discussion by highlighting Sri Lanka’s economic recovery, associated opportunities for strengthening resilience, and areas where international cooperation and policy support could further advance the country’s economic transformation.

The APPG session was aimed at discussing analytical reports on debt distress and economic transformation in Sri Lanka, under the guidance of ODI Global, a leading UK-based public affairs think tank. The session was honoured by APPG Chairperson Andrew Snowdon MP.

In the opening of the session, Sri Lanka’s High Commissioner to the United Kingdom, Nimal Senadheera, underscored the country’s progress in stabilising its economy following the 2022 debt crisis. He stressed the importance of continued collaboration with international partners, multilateral institutions, and bilateral partners including the UK, noting the Government’s ongoing efforts to address challenges arising from current global crises.

ODI Global Senior Fellow Phyllis Papadavid emphasised that macroeconomic stability, structural reforms, and investor confidence are key to achieving sustainable growth in Sri Lanka.