Home / Knowledge / News / Textiles / World Bank: Urbanization can boost Sri Lankan economy
World Bank: Urbanization can boost Sri Lankan economy
30
Sep '15
South Asian countries, including Sri Lanka, can benefit from urbanization as a major opportunity to transform their economies and join the ranks of richer nations, according to a World Bank report titled ‘Leveraging Urbanization in South Asia: Managing Spatial Transformation for Prosperity and Livability’.

Difficulty in dealing with the pressures that urban populations put on infrastructure, basic services, land, housing, and the environment have fostered what the report calls “messy and hidden” urbanization in South Asia. This, in turn, has contributed in constraining the region’s full realization of the prosperity and livability benefits of urbanization.

According to the report’s findings, Sri Lanka has performed well relative to other countries in the region. Its urbanization has been less “messy” insofar that only a relatively small proportion of the urban population lives in slums and it has largely eradicated extreme urban poverty. Nevertheless, between 1999 and 2010, Sri Lanka was the country in the region with the fastest expansion of urban area, as measured using nighttime lights data, relative to urban population. The rapid expansion of urban area relative to urban population reflects the sprawl and ribbon development that are characteristic of Sri Lanka’s urban development.

“If managed well, urbanization can lead to sustainable growth by increasing productivity, allowing innovation and new ideas to emerge,” said Ede Ijjasz-Vasquez, Senior Director, Social, Urban, Rural and Resilience Global Practice, World Bank.

“Better cities can help reduce vulnerability to poverty, improve living conditions, and create the environment for more and better paying jobs,” Ijjasz said while releasing the report.

Annette Dixon, Vice President for the South Asia Region of the World Bank, said policymakers in the region face a choice: Continue with the same policies or undertake reforms to tap into the tremendous unrealized potential of South Asia’s cities.

“It is essential to move forward,” Dixon said. “It won’t be easy, but with the right policies and investments, South Asia’s cities can be much more livable and prosperous.”

Since 2000, the report found, South Asia has made good strides in achieving greater prosperity with the increase in productivity linked with the growth of the region’s towns and cities. In Sri Lanka, this progress has also been linked with a decline in the share of the urban population living below the national poverty line from 7.9 per cent in 2002 to 2.1 per cent in 2013. Furthermore, unlike many other countries in the region, the contribution made by manufacturing to Sri Lanka’s GDP continued to grow between 2000 and 2010.


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X