Cabinet approves €10 million EU grant for sustainable Sri Lanka-EU trade

The Cabinet of Ministers has approved the signing of a financial grant agreement to obtain a €10 million grant from the European Union (EU) to strengthen sustainable trade relations between Sri Lanka and the EU.

The project aims to promote green transition initiatives and climate-resilient trade practices while further strengthening sustainable trade relations between the two parties. It is also expected to enhance the capacity of institutions engaged in trade and support Sri Lanka’s efforts to comply with international standards required to access the European Union market.

The Ministry of Trade, Commerce, Food Security and Cooperative Development has planned to implement the project over a period of four years.

The Cabinet of Ministers approved a proposal submitted by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Planning and Economic Development, to sign the financial grant agreement between the Government of Sri Lanka and the European Union to obtain the €10 million grant for implementation of the project.