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France to provide Euro 13.9Mn loan to Sri Lanka for dairy projects

Jan 01, 2018 (LBO) - The French Republic agreed to extend its assistance to Sri Lanka, by providing a Euro 13.9 million (approximately 2,514 million rupees) concessional loan for the development of the local dairy industry. The proposed project will include complete modernization of the pre-selected six mini dairy cooperative societies and organizations by establishing state of the art equipment chains to produce pasteurized milk and sterilized milk at a capacity of 4,500 liters per day. The project will also target to achieve self-sufficiency in dairy production by 2020 and to contribute to closing the gap between demand for dairy and local supply. Secretary to the Ministry of Finance and Mass Media, Dr. R. H. S. Samaratunga signed the relevant Protocol Agreement on behalf of the Government of Sri Lanka and Isabelle MISCOT, Chargéed’affaires of the Embassy of France in Sri Lanka, signed the relevant agreement on behalf of the Government of French Republic.