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ஜெனரல்
Sri Lanka, amidst its economic recovery efforts, is exploring innovative avenues for financing its green initiatives. State Finance Minister Shehan Semasinghe participated in the World Bank's Bio-Diversity Financing Forum, signaling the nation's intent to leverage nature-linked Green Bonds. While the Colombo Stock Exchange introduced Green Bond listings last year, actual listings are pending. The country aims to raise $11.26 billion for renewable energy projects by 2030, aligning with its goal of becoming carbon neutral by 2050. Semasinghe highlighted Sri Lanka's Climate Prosperity Plan and its focus on attracting foreign investment while advancing climate adaptation and emission reduction strategies. Additionally, President Ranil Wickremesinghe's unveiling of ambitious targets, including establishing an International Climate Change University and other initiatives at COP28, underscores Sri Lanka's commitment to environmental stewardship.
Despite these aspirations, Sri Lanka grapples with economic challenges, having declared sovereign debt default in April 2022. The nation's inability to access capital markets due to pending debt restructuring deals and lower credit ratings further complicates its financial outlook. However, initiatives like Green Bonds and commitments to climate action signal a proactive stance toward sustainable development. Sri Lanka's journey towards a carbon-negative economy by mid-century, coupled with strategic plans for sectors like transportation, forestry, and tourism, reflects a concerted effort to navigate economic recovery while prioritizing environmental sustainability and resilience.
