Written by 4:07 pm European Union

European Union grants over US$ 40 million for industrial development in Sri Lanka

European Union grants over US$ 40 million for industrial development in Sri Lanka

Thu, Sep 15, 2022, 09:37 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 15, Colombo: The European Union has provided US$22.83 million and €18.75 million to Sri Lanka for sustainable industrial development in the country, The United Nations Industrial Development Organization (UNIDO) Sri Lanka representative Dr. Rene Van Berkel said.

He said this while participating at a working committee meeting to implement the national plan of the United Nations Industrial Development Organization for the development of Sri Lanka’s industries.

The working committee meeting was recently held at the Ministry of Industry under the chairmanship of UNIDO Representative Dr. Rene Van Berkel, and Thilaka Jayasundara, Secretary of the Ministry of Industry.

The amount of US$22.83 million provided by the EU to Sri Lanka has been allocated for the 8-year industrial development projects from 2015 to 2023 and for the development of sectors such as dealing with climate change, energy management, and turning to renewable energies affecting Sri Lanka’s industrial sector.

The UNIDO and the European Union also provide support to Sri Lanka for formulation of Sri Lanka’s national industrial policy, development of infrastructure in export-oriented industries, promotion of small and medium enterprises, managing the use of chemicals; ensuring food safety and quality, improving production value chains, reduction of environmental pollution caused by industries, and energy management.

In addition to this, the European Union and the UNIDO have given 11 million euros for the development of agri-food products in Sri Lanka, and under this many projects are being implemented to increase food safety and quality and to improve facilities for the same, to train, to create laboratory facilities for food quality control, and to develop food chains.

The joint steering committee for the implementation of this national plan has been prepared with the contribution of many public and private sector organizations including the Ministry of Industry, UNIDO, the European Union, the Ministry of Power and Energy, the Ministry of Environment, the Ceylon Chamber of Commerce, and the Industrial Development Board and so on.

This committee provides coordination and recommendations for the projects implemented by the United Nations Industrial Development Organization in Sri Lanka.

Another 7.75 million euros have been allocated for industrial waste management activities in Sri Lanka and these waste management projects have been implemented together with the Ministry of Industry, the Ministry of Environment and the Ministry of Power and Energy. Under this an energy management system has been prepared under 75 energy experts.

Through the implementation of this national plan for the development of the industrial sector under the leadership of the Minister of Plantation and Industry Dr. Ramesh Pathirana, it is hoped to achieve the acceleration of Sri Lanka’s economic growth, diversification of products, reducing of imports and improving the contribution of the industrial sector to the promotion of import substitution, increasing export revenues, management of energy and resources, increasing value chains, developing enterprise skills, improving industrial infrastructure etc.

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