As you said, Sri Lanka is already reeling from an economic crisis. At this point, I don't know how practical it is for the SLCB to spend a few tens of millions of USD to organize a franchise league. Their previous attempts ended in huge losses. The trouble is in getting foreign audiences to watch the SLPL. If they want revenues from countries such as India, then they need to have big names such as Pollard and Warner participating in the league. But these players won't come cheap. A month-long contract can cost more than half a million USD.
I think Sri Lanka is trying to raise some money with the help of some organizations and asking for help through this cricket league but I don't know how practical this is going to be. People are not going to think about cricket when they simply don't have any food to eat. The country is already in a very bad economical situation and if this fails it is going to be a lot worse. And under this situation, I don't know even if they will be able to afford to have big names in the league because they will have to pay them a good amount of money.