"Need a secure and reliable way to access your bank account? Look no further than Keybank login."

Australia & Sri Lanka signed AUD 30mn subsidiary arrangement to support improved governance

On 30 January 2024, Australia and Sri Lanka signed a 10-year subsidiary arrangement that commits an initial AUD 30 million (LKR 6.3 billion) over five years to support improved governance in Sri Lanka.

Through a suite of programs, the arrangement supports the Sri Lankan government, nonprofit institutions and civil society to improve evidence-based policy and decision-making, deliver better services for communities, and increase the voice and agency of marginalised groups, including women.

Lead delivery partners include the World Bank, The Asia Foundation, and International Foundation of Electoral Systems. The program will also support twinning arrangements between Australian and Sri Lankan institutions.

This investment builds on a previous five-year arrangement valued at AUD 31 million (LKR 6.5 billion) over five years.

Secretary of the Finance Ministry Mahinda Siriwardana noted that in line with the IMF Governance Diagnostic and program for Sri Lanka, supporting improved governance is necessary to deliver long term economic growth and stability.

Australian High Commissioner Paul Stephens said Australia is pleased to continue its longstanding assistance.

“Strong governance systems are critical to support resilient and inclusive economic growth, and to ensure that all Sri Lankans stand to benefit from that growth,” the High Commissioner said.

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x