Poverty Alleviation proposal wins World Bank award
[February 19, 2002 - 10.00 GMT]

The Central Bank of Sri Lanka’s proposal for poverty alleviation has won an award of Rs. 22 million (US$ 240,500).

The Central Bank, the apex institution in the financial sector in Sri Lanka was adjudged as one of the winners of the Development Marketplace 2001/2002 Competition held in Washington, DC recently.

Every year the World Bank invites innovative proposals for poverty alleviation worldwide. Early last year, the Central Bank proposed the introduction of a forward sales contract among farmers, which could protect them from perpetual poverty.

The proposal was based on preliminary work done by the Central Bank in several parts of the country where farmers were encouraged to enter into a contract with a buyer to sell their produce in advance.

The Development Marketplace Competition saw over 200 innovative proposals from all over the world.

PRINT THIS STORY

Contact Information: Send mail to webmaster@priu.gov.lk with questions or comments about this web site. 
Last Updated Date: February 19, 2002  - 10.00 GMT.