EU to provide €10 million grant to promote sustainable trade with Sri Lanka
Summary
The European Union has agreed to provide a €10 million grant to Sri Lanka to strengthen sustainable trade relations and improve the country’s access to the European market. The four-year project aims to enhance institutional capacity in trade-related activities, support […]
The European Union has agreed to provide a €10 million grant to Sri Lanka to strengthen sustainable trade relations and improve the country’s access to the European market.
The four-year project aims to enhance institutional capacity in trade-related activities, support Sri Lanka in meeting international standards required by the EU market and promote trade initiatives that encourage a transition towards environmentally sustainable practices.
The initiative is also expected to support efforts to address climate change while strengthening trade cooperation between Sri Lanka and the European Union.
The Ministry of Trade, Commerce, Food Security and Cooperative Development is scheduled to implement the project over four years.
The Cabinet of Ministers has approved a proposal submitted by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development to sign the financing agreement between the European Union and the Government of Sri Lanka to secure the €10 million grant.
Source: Daily News