Sri Lanka to get Euro 43.7mn grant, technical assistance from EU

Oct 07, 2015 (LBO) – Sri Lanka will be getting 43.7 million euro as grant and technical assistant from the European Union, government told reporters Thursday.

The European Union has agreed to provide grant assistant of 30 million of euros to finance in support of the integrated rural development programme in Central and Uva provinces, which intends to improve livelihood, in come level, health and nutrition of the low income people of the provinces, The grant will come under the European Union’s multi-annual indicative programme -2014-2020 (MIP).

MIP is the EU country strategy for Sri Lanka under which up to 210 million euro grant assistance is allocated during the year 2014- 2020 period with a view to support integrated rural development in the Island.

An eight million Euros has been allocated to be utilized for trade related assistance programme in Sri Lanka to increase the export competitiveness, policy implementation and regulatory reforms on GSP plus of the European Union and to implement trade policy. This assistance will come under Asia Regional Multi-Annual Indicative Programme 2014-2020.

Moreover a 5.7 million euros will be provided as technical assistance to the water supply and drainage board.

The proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the minister of national policy and economic affairs to enter in to relevant agreements on this purpose was approved by the cabinet of ministers.