COLOMBO: The European Union (EU) has promised to step up its assistance to Sri Lanka by pledging €42 million to the country.
The funding is for supporting programs to modernise the agricultural sector and strengthen reconciliation in the country.
A large proportion of the funding worth €30 million will go towards agricultural sector modernisation projects while another €12 million will be used to strengthen the reconciliation processes in Sri Lanka.
Dr. R. H. S. Samaratunge, Secretary of the Ministry of Finance signed the agreements on behalf of the Government of Sri Lanka in the presence of Tung Lai Margue, the head of EU Delegation to Sri Lanka and the Maldives.
The funding is based on the EU’s Foreign Affairs Council (FAC) assessment of Sri Lanka, which aims to strengthen the process of reconciliation by seeking institutional consensus across government entities and civil society.