India, Sri Lanka implement flagship development cooperation partnership

India and Sri Lanka is implementing a flagship development cooperation partnership, India’s Deputy High Commissioner Vinod K Jacob said.

The engagement was based on the principles of South South cooperation between friendly neighbours. The total development cooperation portfolio stands at US$600 million and in the past eight years, more than 20 projects have been completed.

He disclosed these details when he participated in the Coordination Forum of Development Partners of Sri Lanka, chaired by Shehan Semasinghe, State Minister for Finance at the premises of the Treasury in Colombo on Tuesday.

In his intervention, Mr. Jacob welcomed the initiative of the Treasury and supported the proposal to convene such a Coordination Forum once in six months.

He stated that India had steadfastly supported the people of Sri Lanka through the economic crisis as well as at the IMF and expressed hope that Sri Lanka will achieve early economic recovery.

The projects are selected in line with the priorities of the Sri Lankan side and pertain to socio-economic sectors like the Indian Housing projects, 1990 Suwaseriya Ambulance, Kandyan Dancing Academy, fishery harbours, hospitals, schools and the like. (BS)