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SL to get Rs. 9 billion from EU

28 August 2012 11:01 am - 15     - {{hitsCtrl.values.hits}}

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European Union will provide Sri Lanka an Rs.9 billion (EUR 60 million) grant under its support to the District Development programme from 2012 to 2017, the Economic Development Ministry said

The announcement was made by EU Delegation Head Bernard Savage during a meeting with Minister Basil Rajapaksa yesterday in Colombo.

Under this programme, the projects identified by the Sri Lankan government as priority projects will be implemented by United Nations agencies -- UNDP, UNICEF, UNOPS, FAO, ILO and IFC, the ministry said.

Speaking at the event UN Resident Coordinator & UNDP Representative Subaine Nandy said that UN and its agencies would always cooperate with overall development strategies of the government and extend assistance in accordance with the requirements of the government. Experience gained and lessons learnt from the implementation of the projects can be used to design the next projects, he said.
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  Comments - 15

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  • ceylon Tuesday, 28 August 2012 02:45 PM

    Loan for district development ? Unbelievable.

    MANAGER Wednesday, 29 August 2012 06:08 AM

    They say it is a grant
    But so big amount as grant seems to be some inside things.

    MANAGER Wednesday, 29 August 2012 06:20 AM

    Correct as Wimalgoogle

    Mims Tuesday, 28 August 2012 10:57 AM

    So we stretch out our eager hands, to take aid from those we have criticized, called evil, and insulted.
    It seems national pride is lost when it comes to aid.

    M De Silva Tuesday, 28 August 2012 11:08 AM

    Who is to pay this back and when?

    Sri Radharakshitha Tuesday, 28 August 2012 11:08 AM

    Some good news from EU for a change!

    Calistus Jayatilleke Tuesday, 28 August 2012 11:30 AM

    So, what percentage of this amount are we going to give the European countries as "loans"?

    Sri Radharakshitha Tuesday, 28 August 2012 11:20 AM

    @ M De Silva:
    " grant under its support to the District Development programme from 2012 to 2017"

    Its a Grant we don't pay this back!!!

    Dalu Banda Tuesday, 28 August 2012 12:12 PM

    The "Devils" are not black as thought.

    dimuthu Tuesday, 28 August 2012 12:20 PM

    We must not bow down to imperialist countries. Dirty Euros. We are the nationalist like only Chinese , Iranian Grants.

    T.Ruth & L.I.Berty Tuesday, 28 August 2012 12:10 PM

    Identify the true friends. Compare Norochcholai & Victoriya project ( It was given free of charge). For the last one year 06 newly built bridges in have collapsed according to Chinese state media.. God Bless Sri Lanka!

    Anon Tuesday, 28 August 2012 12:13 PM

    We all know whose pocket that's going into.

    Rubert Vanderkoon Wednesday, 29 August 2012 08:32 AM

    Got your wires crossed? It' them who criticised us for finishing up a terrorist group. Where would they sell their weapons to now? An end of a war is a serious threat to their job situation. The steel/weapons companies laying off people on daily basis. Anyway the point here is, Rs.9 b is a lot. A 10% is 900 million.:).

    Haasya Tuesday, 28 August 2012 01:33 PM

    Accountant Cabral is now the expert on macro economics, stock markets, only issuing warnings to local retail investors that there are illegal un-monitored deposit takers, bidding for major sporting events, purchasing Greek bonds, etc etc. Perhaps soon he will try is golden hands on hedging soon.

    HW Tuesday, 28 August 2012 02:01 PM

    Most of the grants has a repayment. Why they call it as a grant is because they give them with some grace period or lowered interest rates. It looks like you have very little knowledge about economics!


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