World Bank in favour of salvaging tea plantations

The World Bank is currently looking at the possibilities of funding the plantations in a bid to salvage what is left of it.

This was highlighted at the AGM held recently in Colombo of an ex-planters grouping titled The Mascots by its President Devaka Wickramasuriya who stated that the World Bank had favourably looked at assisting the plantations.

However, the World Bank official in charge of this aspect, Ulrich Schmidt – Programme Leader sustainability and Resilience World Bank for Sri Lanka and the Maldives, when contacted by the Business Times said, that it was too early to comment.

The Mascots had prepared a report on the plantation industry, Mr. Wickramasuriya explained which provided suggestions on how the industry could be resurrected.

The sub-committee appointed to carry out the research on this subject submitted its report to the relevant government authorities and the ministry in addition to a copy being forwarded to the World Bank.

The World Bank funding is expected to be a capital infusion to overcome the current crisis on the plantations that have been faced with a

The Mascots had prepared a report on the plantation industry, Mr. Wickramasuriya explained which provided suggestions on how the industry could be resurrected.

number of issues like falling prices in the recent past but which picked up only due to the shortage of supply in the global market for tea.

Membership of the Mascots stands at 72 resident members, 41 overseas members and 12 associate members who are in fact the wives of colleagues.

The current General Committee comprises Sunil Wickramasinghe as Vice President, Hemannath Wickremesooriya as Treasurer with Randy McLeod, Winston Rupasinghe, Gnana Samaratunga and Harin de Costa functioning as members together with Tilak de Zoysa, Manik Pereira and Sarath Sirisena as Trustees.