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Sri Lanka Equity Forum » Stock Market Talk » European Union to provide Rs34bn to Sri Lanka

European Union to provide Rs34bn to Sri Lanka

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1 European Union to provide Rs34bn to Sri Lanka on Wed Oct 19, 2016 12:03 pm

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
ECONOMYNEXT - The European Union will provide 210 million euros (Rs34 billion) over the next four years, doubling assistance to Sri Lanka, a statement following a visit of Prime Minister Ranil Wickramasinghe said.

The funds will be used for re-settle displaced persons, develop poor areas and establish permanent peace.

The funds of 210 million euros, which will be provided up to 2020, is double the funding during the 2007 to 2013 period, the statement said.

The EU had noted progress in Sri Lanka over the past 21 months, the statement said.

Sri Lanka is also pushing the EU to restore GSP+ concessions to Sri Lanka, which will allow duty free access to exports to the region.

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