SL and India to execute Buddhism promotion projects with US$ 15 million grant.
By: Staff Writer
Colombo (LNW): Sri Lanka and India have endorsed the execution of projects under the US$ 15 million grant assistance by the Government of India for the promotion of Buddhist ties between the two countries.
This war the major outcome of the meeting between President Ranil Wickremesinghe and visiting Indian Finance Minister Nirmala Sitharaman and the Indian delegation, a short while ago.
The Head of State met Indian Finance Minister Nirmala Sitharaman, High Commissioner of India to Sri Lanka Gopal Baglay and the Indian delegation for bilateral discussions at the President’s House in Colombo a short while ago, the President’ Media Division (PMD) reported.
During the bilateral meeting with Finance Minister Nirmala Sitharaman, bilateral documents were exchanged to enable the execution of projects under the USD 15 million grant assistance by the Government of India for the promotion of Buddhist ties between India and Sri Lanka.
Accordingly, a Letter of Exchange and Letter of Acceptance to formalize an amendment to the MOU on $15 million grant assistance for the promotion of Buddhist ties between India and Sri Lanka was exchanged, along with a Memorandum of Understanding on solar electrification of places of religious worship across Sri Lanka with a grant allocation of $10 million.
Finance Minister Nirmala Sitharaman arrived this week for a three-day visit engagement during which would give a further impetus to strong and growing economic ties with Sri Lanka.
She is in Sri Lanka on the invitation by the Government to attend the ‘Naam 200’ event in Colombo today and will call on President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena.
A total of more than 30 business leaders from India will attend the ‘Naam 200’ event today according to official sources.
A milestone is the resumption of bilateral talks to enhance the existing FTA to an comprehensive Economic and Technology Cooperation Agreement (ECTA) after a five year hiatus.
Finance minister Nirmala Sitharaman visited Sri Lanka’s eastern port town of Trincomalee where she opened a branch of the State Bank of India and appreciated its role in supporting corporates in international trade.
She started her day by visiting the main Hindu Temple in the multi-ethnic city to pay homage to it before opening a branch of the State Bank of India in Trincomalee.
After inaugurating the branch, she appreciated that SBI, with its 159 years of significant presence, is the oldest bank in Sri Lanka and continues to grow its business at home and abroad.