The Cabinet of Ministers has approved a comprehensive framework Memorandum of Understanding (MoU) between the Government of India and the Government of Sri Lanka, aimed at fostering socio-economic development and strengthening bilateral cooperation. This significant step was proposed by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development, and is set to enhance collaboration between the two nations through targeted development projects.
Under the MoU, the Indian government will provide grant assistance of LKR 2,371.83 million to fund 33 development projects across Sri Lanka’s Eastern Province. These projects have been meticulously identified to address critical areas of need, with a strong focus on infrastructure development and livelihood enhancement. The sectors targeted include education, health, agriculture, fisheries, tourism, and community empowerment, ensuring a holistic approach to regional development.
The planned projects aim to address long-standing socio-economic challenges in the Eastern Province by improving essential services and creating sustainable opportunities for local communities. For instance, education initiatives will focus on upgrading school facilities and resources, while health projects will enhance access to quality medical care. Similarly, investments in agriculture and fisheries are expected to boost productivity and provide better income opportunities for rural families.
Tourism development forms another key component of the initiative, with projects aimed at promoting the province’s cultural and natural attractions, thereby creating jobs and stimulating the local economy. Community empowerment programs will emphasize skill development, small business support, and social inclusion, fostering greater self-reliance among the region’s residents.
The MoU not only underscores India’s commitment to supporting Sri Lanka’s development but also highlights the importance of regional partnerships in addressing shared challenges. The President’s proposal reflects the Sri Lankan government’s focus on leveraging international cooperation to drive progress in underdeveloped regions. By aligning these projects with broader socio-economic goals, the initiative is expected to deliver sustainable benefits and strengthen ties between the two neighboring countries.
This agreement is a continuation of the long-standing friendship between India and Sri Lanka and demonstrates the potential for collaborative efforts to bring about meaningful change. Both governments anticipate that the projects will serve as a model for regional development, fostering a stronger, more inclusive partnership in the future.
