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Sri Lanka receives 60 million euros from European Union for development projects Vote_lcap68%Sri Lanka receives 60 million euros from European Union for development projects Vote_rcap 68% [ 178 ]
Sri Lanka receives 60 million euros from European Union for development projects Vote_lcap18%Sri Lanka receives 60 million euros from European Union for development projects Vote_rcap 18% [ 47 ]
Sri Lanka receives 60 million euros from European Union for development projects Vote_lcap13%Sri Lanka receives 60 million euros from European Union for development projects Vote_rcap 13% [ 35 ]

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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka receives 60 million euros from European Union for development projects

Sri Lanka receives 60 million euros from European Union for development projects

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Aug 29, 2012 (LBT) - The European Union will provide Sri Lanka a 60 million euros grant for the next five years for development projects in the country. The grant of approximately 9 billion rupees will be provided under the European Union- support to District Development programme for the period 2012 - 2017, Head of Delegation of the European Union in Sri Lanka Bernard Savage has announced during a meeting with the Minister of Economic Development Basil Rajapaksa at the Ministry yesterday.

Subinay Nandy, UN Resident and Humanitarian Coordinator has also participated in the meeting with the Minister and the EU official. Under this programme, the projects identified by the Sri Lankan government as priority projects will be implemented by United Nations agencies and IFC of the World Bank Group with European Union financial assistance.

The European Union plans to support two major components identified in line with the National Development Programme of Sri Lanka. The grants will be utilized for poverty reduction and provision of basic infrastructure and services for vulnerable populations and to support local economic development. Ambassador Savage has indicated to the Minister that the EU will provide funds to complete the ongoing projects started with EU funds and it will provide financial assistance amounting to 60 million euros for the new projects to be started.The Minister has said that since most of the humanitarian development programs related to Tsunami and post conflict resettlement are completed or near completion the government will allocate foreign funds on the basis of country's overall economic strategy and national policy.

Reiterating the assistance of the UN agencies to the overall development strategies of the Sri Lankan government the UN official has said that the experience gained and lessons learned from the implementation of the projects can be used to design the next projects. The Minister has expressed his gratitude to the EU for the assistance it has rendered for the Humanitarian Development programs at various levels and the United Nations and its agencies for the long standing support extended to Sri Lanka.
http://www.lbt.lk/news/economic/2524-euro-grant

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