The Indian High Commission in Sri Lanka has announced that the Government of India (GOI) has increased its financial allocation for various grant projects being implemented in Sri Lanka.
This decision has been made in response to the rapid changes in the economic landscape of the country. Under the India-Sri Lanka High Impact Community Development Project (HICDP) framework, the financial allocation for nine ongoing projects has been raised by up to 50%.
These projects cover a range of sectors including education, health, agriculture, and more. The total financial commitment for these nine projects now amounts to nearly SLR 3 billion. Since the signing of the HICDP framework in 2005, the GOI has successfully completed over 60 grant projects across all 25 districts of Sri Lanka.
Furthermore, there are currently 20 other projects at different stages of implementation. In January 2023, the GOI also increased the ceilings for individual projects and the overall financial capital outlay under the framework.
The GOI's development cooperation partnership portfolio in Sri Lanka is valued at approximately USD 5 billion, with USD 600 million dedicated to grants. These demand-driven and people-centric projects cover various areas such as infrastructure development, housing, livelihood assistance, and more.
Notable completed projects include the 1990 Emergency Ambulance Service, railway track rehabilitation, integrated water plants, the Indian Housing Project, and the Jaffna Cultural Center. This increased financial allocation by the GOI reflects its commitment to supporting Sri Lanka's development and fostering a strong partnership between the two countries.
