Gamani Corea Foundation

The study examines the Sarvodaya Shramadana Movement’s economic model as a culturally rooted alternative to mainstream approaches to economic development. It highlights Sarvodaya’s integration of spiritual, moral, cultural, social, political, and economic dimensions, alongside practical initiatives such as microfinance and community enterprises.
The findings suggest that its emphasis on financial inclusion, ethical wealth creation, community ownership, capacity building, and local resilience offers a holistic and sustainable framework that could support Sri Lanka’s post-crisis economic recovery and more equitable development.

This GCF funded research can be accessed:
https://l1nk.dev/03f17l6

Read More -
https://drive.google.com/file/d/1Vwd58H2jJ9-Up94sLP888PzgIxQP8Wx9/view?usp=sharing

The Annual General Meeting, of the Gamani Corea Foundation, was held yesterday.
In attendance were members of the GCF Board, its members, and staff.
GCF also felicitated two of its long-standing consultants, Mr. Lasitha Devendra and Mr. Tusith Jeewandara (absent), on their retirement, in appreciation of their dedicated and valued service to GCF.

The special issue of the Sri Lanka Economic Journal, with papers from the Gamani Corea Foundation Round 1 Research Grants, can now be accessed.

SLEJ Volume 23 Special Issue- 2026 May Sri Lanka Economic Association

The GCF Newsletter for July-August is out now
https://gamanicoreafoundation.lk/newsletter-july-august/

The Gamani Corea Foundation (GCF) is an autonomous, non-profit research institute dedicated to advancing economic development, with particular focus on Sri Lanka. The Foundation was set up by Dr. Gamani Corea, former Secretary-General of the United Nations Conference on Trade and Development (UNCTAD). The GCF Research Grants Scheme aims at promoting innovative economic and multidisciplinary research to promote economic development in middle and low-income countries with special reference to Sri Lanka. Two rounds of research awards have been conducted since 2024. As in the past, the third round of GCF Research Grants will prioritize economic research, while accommodating multidisciplinary research that complements economics with knowledge from other social sciences, management, humanities, mathematics, statistics, computer science, or any other relevant discipline.

Sri Lanka is home to one of the world's richest cultural and historical heritages. From ancient cities and royal palaces to temples and archaeological sites, the country preserves more than 2,500 years of history. These remarkable landmarks not only reflect Sri Lanka's past but also have the potential to attract visitors from around the world.
This study focuses on four of the country's most important heritage sites:
Anuradhapura
Polonnaruwa
Sigiriya
Dambulla
These UNESCO-recognised cultural treasures are among Sri Lanka's most popular tourist destinations and hold immense archaeological, historical, and cultural value.
As Sri Lanka works to recover from its recent economic crisis, tourism has become an increasingly important source of income. Heritage tourism, in particular, offers an opportunity to create jobs, support local businesses, and stimulate regional development while showcasing the country's unique history and culture.

However, increasing visitor numbers also brings new challenges. Poorly managed tourism can damage ancient monuments, reduce the authenticity of cultural sites, and place pressure on local communities. There are also concerns that tourism revenue is not always used effectively to improve surrounding areas or support heritage conservation.
For tourism to be truly sustainable, it must strike a balance between protecting Sri Lanka's archaeological treasures, supporting local communities, and creating long-term economic benefits. This requires careful planning, responsible management, and a better understanding of the social and cultural importance of these heritage sites.

Although many studies have explored the relationship between tourism and economic development in Sri Lanka, little research has examined how heritage conservation and regional development can be achieved together.

This study aims to fill that gap by exploring how the ancient heritage sites of Anuradhapura, Polonnaruwa, Sigiriya, and Dambulla can be protected while also promoting sustainable tourism, strengthening local economies, and improving the livelihoods of surrounding communities. The findings will help guide future tourism policies that preserve Sri Lanka's cultural heritage while supporting inclusive and sustainable economic growth.
Access this GCF funded study - https://acesse.one/sqt4jkl

A joint GCF- SLEA Seminar, part of a series of collaborative seminars, was held on August 20th, at the GCF.
"Influence of Political Patronage Networks and Clientelism on Resource Allocation, Public Spending, and Economic Disparities Across Sri Lanka"

Sri Lanka has enormous potential to generate clean energy from natural resources such as sunlight, wind, and water. The country has set ambitious goals of producing 70% of its electricity from renewable sources by 2030 and achieving carbon neutrality by 2050.

Expanding renewable energy is not only important for protecting the environment but also for reducing Sri Lanka's dependence on imported fossil fuels, which have become increasingly expensive and have contributed to foreign exchange shortages.

In recent years, Sri Lanka's energy sector has been changing rapidly. While hydropower continues to play a major role, the country has also seen significant growth in rooftop solar systems, large-scale wind farms, and mini-hydropower projects. Together, these technologies could help provide cleaner, more reliable, and more affordable electricity.

However, developing renewable energy is about more than reducing carbon emissions. New projects must also be financially worthwhile for investors and acceptable to the communities where they are built. Understanding these economic and social factors is essential for the successful expansion of renewable energy.

This study examines three important renewable energy options in Sri Lanka:

Rooftop solar power, to assess whether it is a financially attractive investment for households and businesses.
The Thambapavani Wind Farm, to understand how local communities view large-scale wind energy projects.
Three proposed mini-hydropower sites, to evaluate both their technical potential and the opinions of nearby residents.
This GCF Funded study can be accessed: https://acesse.one/ynhd1fj