EU grants €10m to boost sustainable trade with Lanka

The European Union has agreed to provide a €10 million grant to support a four-year project aimed at strengthening sustainable trade between Sri Lanka and the EU.

The project will promote green transition initiatives and climate-resilient trade practices while helping Sri Lanka meet international standards required for greater access to the EU market.

It will also seek to strengthen the institutional capacity of trade-related organisations and support efforts to improve Sri Lanka’s compliance with EU market requirements.

The Ministry of Trade, Commerce, Food Security and Cooperative Development will implement the project over four years.

The Cabinet approved a proposal by President Anura Kumara Dissanayake, in his capacity as Minister of Finance, Planning and Economic Development, to enter into a financial grant agreement with the EU for the project.