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The European Union pledges Euro 42 million through Financing Agreements to Sri Lanka

Finance news 2017 04 12The European Union (EU) will step up its assistance to Sri Lanka, by providing Euro 42 million (approximately LKR 6791.4 million) for the implementation of two programmes:
Support to the Modernisation of the Agricultural Sector in Sri Lanka (EUR 30 million) and Strengthening Reconciliation Processes in Sri Lanka (EUR 12 million). Secretary to the Ministry of Finance, Dr. R. H. S. Samaratunge signed the agreements on 06th April 2017 on behalf of the Government of Sri Lanka in the presence of Ambassador to Sri Lanka and the Maldives for the Delegation of the European Union, H.E. Tung Lai Margue.  

The Foreign Office of the Federal Republic of Germany and the British Council will also contribute EUR 2.4 million and EUR 0.1 million respectively to the programme on reconciliation. 

The programme aimed at Strengthening Reconciliation Processes in Sri Lanka is a direct result of the EU's Foreign Affairs Council (FAC) conclusions on Sri Lanka in October 2015, which envisaged "new opportunities for the EU to engage with the Government of Sri Lanka in making further progress on reconciliation and support priorities of good governance including tackling corruption, promoting respect for human rights and the rule of law”. 

The programme will strengthen the governance of reconciliation processes by seeking institutional consensus across various government entities and civil society in addition to contributing towards strengthening the linkages between the government and the grassroots population. The programme will also facilitate initiatives that link reconciliation and non-recurrence by addressing language barriers and psycho-social needs, as well as using arts and culture to break down barriers between communities. 

The EU aims to help modernise the agriculture sector by improving the Government's institutional capacities and by introducing innovative packages and associated market and production infrastructure in areas in need. 

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