World bank comments on the key for SL to become an upper-middle-income economy

World bank comments on the key for SL to become an upper-middle-income economy

World bank comments on the key for SL to become an upper-middle-income economy

Written by Staff Writer

28 Sep, 2019 | 9:15 pm

Colombo (News 1st): World Bank in its latest report says, developing its human capital to a new and higher level will be key for Sri Lanka to become an upper-middle-income economy. The report “Sri Lanka Human Capital Development: Realizing the Promise and Potential of Human Capital is part of the Human Capital Project, a global effort led by the World Bank since 2018 that recognizes the vital importance of human capital for a country’s future.

The report notes that if current education and health conditions persist, a child born in Sri Lanka today will be about half as productive as she or he could have been had they enjoyed complete education and full health. It added, “Greater resources and policy attention are needed for provinces where human capital is less advanced, while also making rapid improvements in human capital in the more advanced provinces.”

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