LBR LBO Summit
LBR LBO Summit

Sri Lanka to get USD25.7mn for smallholder tea, rubber revival

Nov 06, 2015 (LBO) – Sri Lanka plans to get 25.7 million dollars of financial assistant from the International Fund for Agricultural Development (IFAD) for the implementation of the smallholder tea and rubber revitalization programme, Cabinet Spokesman Rajith Senaratne said.

The programme intends to assist in improving the tea yields in 5,500 hectares in Matara, Galle, Ratnapura, Badulla and Kandy districts. Moreover, it will assist in improving the rubber yields in 3,000 hectares in Monaragala and Ampara districts.

The total investment of the project is 65.4 million US dollars, Senaratne said.

Prime Minister Ranil Wickremsinghe made the proposal in his capacity as the Minister of National Policies and Economic Affairs to enter into an agreement with IFAD which was approved by the Cabinet of Ministers.