Press briefing of Cabinet Decision taken on 2020-10-26

Signing a Memorandum of Understanding (MoU) between the Government of the Democratic Socialist Republic of Sri Lanka and the Government of the Republic of India for obtaining Indian Grant Assistance to implement the High Impact Community Development Projects

- The Government of India has extended their grant financing assistance to Sri Lanka since 2005 to implement small scale development projects in view of strengthening the bilateral relationship and development partnership between two countries. Under this grant financing programme, a large number of projects pertaining to the development of infrastructure in the fields such as education, health and community development have been implemented through the Government institutions, Local Authorities and Non Government Organizations. Under the same, the Government of India is in an agreement to provide financial assistance to Sri Lanka in order to implement high impact community development projects for a period of five years from 2020 to 2025. Accordingly, the proposal made by Hon. Prime Minister in his capacity as the Minister of Finance to enter into a new MoU for the purpose with the Government of India, was approved by the Cabinet.