The United Nations Development Programme (UNDP) in Sri Lanka and the Central Bank of Sri Lanka (CBSL) have taken a significant step forward in their shared mission to empower citizens with essential financial knowledge. The two institutions have formally launched the second phase of their ongoing partnership, reaffirming a strong joint commitment to advancing financial literacy across the island nation. This milestone marks a continuation of collaborative efforts rooted in Sri Lanka's National Financial Literacy Roadmap (2024–2028), a cornerstone initiative of the broader National Financial Inclusion Strategy (NFIS). The formalization of this partnership signals not only institutional dedication but also a recognition that financial literacy is a critical driver of sustainable economic recovery and long-term development for Sri Lanka.
A Strategic Partnership Built on Shared Goals
The renewed collaboration between UNDP Sri Lanka and the Central Bank of Sri Lanka is more than a ceremonial agreement. It represents a carefully structured framework designed to translate national policy ambitions into tangible outcomes for everyday Sri Lankans. The National Financial Literacy Roadmap (2024–2028) serves as the guiding blueprint, outlining specific targets and initiatives aimed at improving financial awareness, capability, and behavior across diverse segments of the population.
Financial literacy has long been identified as a prerequisite for meaningful financial inclusion. Without the foundational knowledge to understand savings, credit, insurance, and digital financial tools, millions of citizens remain excluded from the formal financial system. By aligning their efforts under the NFIS framework, both UNDP and CBSL are ensuring that their combined resources, expertise, and outreach capabilities are directed toward the populations that need them most — including rural communities, women, youth, and small business owners.
Why Financial Literacy Matters for Sri Lanka's Recovery
Sri Lanka has faced significant economic challenges in recent years, including a historic financial crisis that tested the resilience of its institutions and its citizens alike. In the aftermath of such turbulence, building a financially literate population is not merely aspirational — it is essential. Citizens equipped with sound financial knowledge are better positioned to manage household budgets, avoid predatory lending, make informed investment decisions, and participate actively in the formal economy.
The UNDP's involvement brings an international development perspective to the initiative, connecting Sri Lanka's national strategy with global best practices in financial education. Meanwhile, the Central Bank of Sri Lanka contributes its regulatory authority, institutional reach, and deep understanding of the local financial landscape. Together, these strengths create a partnership uniquely positioned to drive meaningful change at both the policy and grassroots levels.
Key Pillars of the National Financial Literacy Roadmap
The National Financial Literacy Roadmap (2024–2028) outlines a multi-pronged approach to improving financial knowledge and behavior across Sri Lanka. Among its core focus areas are structured financial education programs integrated into school curricula, targeted outreach campaigns for underserved communities, capacity building for financial service providers, and the development of accessible digital tools that make financial information available to all.
The roadmap also emphasizes the importance of monitoring and evaluation, ensuring that progress is measured against clear benchmarks and that interventions are adjusted based on evidence. This data-driven approach reflects a maturity in policy design, acknowledging that financial literacy programs must be adaptive, culturally relevant, and continuously improved to remain effective.
The Role of UNDP in Supporting Inclusive Development
The UNDP's partnership with the Central Bank of Sri Lanka is consistent with its broader mandate to support inclusive and sustainable development across the globe. In Sri Lanka, UNDP has been an active partner in numerous initiatives spanning economic resilience, governance, climate action, and social equity. Its involvement in financial literacy underscores a recognition that economic empowerment at the individual level is inseparable from national development goals.
By lending technical expertise, facilitating knowledge exchange, and supporting the design of impactful programs, UNDP adds significant value to Sri Lanka's financial inclusion agenda. The second phase of this partnership is expected to build on lessons learned during the first phase, scaling successful interventions and introducing new approaches informed by both local feedback and international evidence.
Looking Ahead: A Financially Empowered Sri Lanka
The formalization of Phase 2 of the UNDP-CBSL partnership sends a clear message: financial literacy is a national priority, and the institutions responsible for Sri Lanka's economic stewardship are committed to making it a reality for all citizens. As the country continues on its path toward economic stabilization and growth, an informed and financially capable population will be one of its most valuable assets.
Stakeholders across government, civil society, the private sector, and international development organizations are encouraged to align with and support the National Financial Literacy Roadmap. The success of this initiative depends not only on the efforts of UNDP and the Central Bank of Sri Lanka but on a collective national commitment to building a future where every Sri Lankan has the knowledge and tools to make informed financial decisions and secure their economic well-being.