India announces significant boost to Srilanka in financial support for grant projects

India announces significant boost to Srilanka in financial support for grant projects

• India has announced a significant boost in financial support for ongoing grant projects in Sri Lanka. Under the India-Sri Lanka High Impact Community Development Project (HICDP) framework, the allocation for nine ongoing projects has been raised by up to 50 percent reaching a total commitment of nearly 300 crore Sri Lankan rupees. These projects encompass diverse sectors like education, health, and agriculture.

• The Indian government has already completed over 60 grant projects successfully under the HICDP framework, which extends across the entire island. Additionally, 20 more projects are in various stages of implementation. Notably, India recently doubled project ceilings and overall financial investments under the framework in January 2023 during the visit of External Affairs Minister Dr. S. Jaishankar.

• India's comprehensive development cooperation partnership with Sri Lanka, valued at approximately 5 billion dollars, includes 600 million USD in grants. These demand-driven, people-centric projects encompass infrastructure development, housing, livelihood assistance, and more, with noteworthy achievements including the 1990 Emergency Ambulance Service, Railway Track rehabilitation, Integrated Water Plants, Indian Housing Project, and Jaffna Cultural Centre.

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Published date : 02 Sep 2023 11:15AM