Oct 06, Colombo: In preparation of its plans till 2012, the World Bank today presented a Country Assistance Strategy for Sri Lanka.

World Bank Country Director for Sri Lanka, Ms. Naoko Ishii identifying key issues in the country Assistance Strategy said one objective of the plan is to expand economic opportunities in lagging regions in the interests of inclusive and equitable economic development.

"The second objective is to improve the investment climate and competitiveness to accelerate economic growth. And the third is to enhance the quality, efficiency and effectiveness of service delivery by accountable officials. These objectives, by the way, are fully aligned with the government's development strategy."

Ms. Ishii also stressed the importance of the safety of World Bank teams operating in Sri Lanka at project implementing level.

"Additionally the Bank faces considerable fiduciary risks, in particular in operations in the North and East, where the situation is especially volatile. Another tremendous challenge lies in managing the significant macroeconomic risks arising from high fiscal deficits, high inflation and Sri Lanka's vulnerability to external shocks. This requires strong corrective actions by the Government," she added.