More EU aid for Sri Lanka, if peace prevails.

European Commission (EC) pledges more aid for Sri Lanka, if peace prevails. European Commission (EC) pledges more aid for Sri Lanka, if peace prevails. A statement from the EC’s Commissioner for External Relations, Benita Ferrero-Waldner on Thursday, said the benefits of European aid and trade were dependent on peace.

“Above and beyond the next Euro 50 million planned in 2006 for tsunami reconstruction, the Commission is ready to make a substantial multi-year pledge of grant aid for the conflict affected areas for a further seven years up to 2013, if the conditions locally permit us,” said the statement from Commissioner Ferrero-Waldner.

The Commissioner also said that Sri Lanka cannot reap full benefits of European trade concessions, like the GSP Plus, without peace.

“The “GSP Plus” status gives Sri Lanka’s exports the most favourable low-duty access to the EU market of any Asian country,” said the statement.

“This gives a clear competitive edge to Sri Lanka’s export industries and could boost growth and create tens of thousands of jobs.