In a significant move aimed at bolstering Sri Lanka's economic and social development initiatives, the Cabinet of Ministers has approved the signing of documents with the Japanese government to receive a grant of Yen 1.6 billion (approximately Rs. 3.3 billion).
This grant is part of the Japanese Economic and Social Development Program and will fund several crucial projects across the country.
Japan's commitment to supporting Sri Lanka extends beyond traditional avenues, as it has expanded its cooperation to provide immediate humanitarian assistance to communities affected by the ongoing economic crisis.
Furthermore, Japan aims to empower the government sector to uplift the country's economic situation.
The Yen 1.6 billion grant will be allocated to various projects, including enhancing response and management capabilities for oil spills within the Sri Lanka Coastal Defense Force. Furthermore, the grant will facilitate the supply of essential equipment for maternal and infant treatments in major hospitals located in the Northern province.
It will also support vocational training centers in the Northern province by providing equipment for garment courses. Additionally, assisting equipment will be provided for the security of fishermen in the Northern and Eastern provinces.
President Ranil Wickremesinghe, acting in his capacity as the Minister of Finance, Economic Stabilization, and National Policies, proposed the acceptance of the grant from Japan.
The Cabinet of Ministers has endorsed this proposal, green-lighting the signing of exchange papers and other relevant documents to kick-start the aforementioned projects.
