EU pledges Rs. 7 b through financing agreements to SL

The European Union (EU) will step up its assistance to Sri Lanka by providing ¤ 42 million (roughly Rs. 6.93 billion) for the implementation of two programs, ‘Support to the Modernisation of the Agricultural Sector in Sri Lanka’ (¤ 30 million) and ‘Strengthening Reconciliation Processes in Sri Lanka’ (¤ 12 million). 

Secretary to the Ministry of Finance, Dr. R. H. S. Samaratunga, signed the agreements on behalf of the Government in the presence of the Ambassador to Sri Lanka and the Maldives for the Delegation of the European Union Tung Lai Margue.

The Foreign Office of Germany and the British Council will also contribute ¤ 2.4 million and ¤ 0.1 million respectively to the program on reconciliation.

The program 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 program will strengthen the governance of reconciliation processes by seeking institutional consensus across various Government entities and civil society, in addition to contributing to strengthening the linkages between the Government and the grassroots population.

The program 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.