By:Staff WriterColombo (LNW): UK Foreign, Minister for the Indo-Pacific, Anne-Marie Trevelyan who was in Sri Lanka to attend Indian Ocean Rim Association (IORA) meeting in Colombo says UK supports Sri Lanka’s economic recovery to complement IMF, World Bank and Asian Development Bank assistance.
In an interview with local media she noted that climate action and economic growth are key areas for UK-SL joint work, as well as working together on post-conflict reconciliation and improving human rights.
On climate action, Britain will boost sustainable trade between the two countries, including through the UK’s new Developing Countries Trading Scheme (DCTS), which gives developing countries access to the UK’s simpler and more generous preferential trading scheme by cutting tariffs, removing conditions and simplifying trading rules.
Through growing shared commitments in these areas, the UK is increasing its long-term commitment to the Indo-Pacific, deepening our partnerships with Sri Lanka and other key players through regional forums such as IORA, she pointed out
The British government wants to support Sri Lanka to be a thriving economy, where issues from the past are addressed and human rights are better protected.
Last year the UK provided £3m in humanitarian support through UN and Red Cross partners, reaching around 70,000 of those worst affected by the economic crisis.
We will continue to help address legacies of conflict, promote human rights and build cohesion across communities, including through our £11m Conflict, Stability and Security Fund (CSSF) program 2022-2025, she pledged.
Building lasting and inclusive peace is key to a stable Sri Lanka, and it will attract foreign investment and help Sri Lanka achieve its economic potential.
The UK remains committed to delivering on the $100bn Climate Finance goal this year to support countries most vulnerable to climate shocks, including Sri Lanka.
She said that she had the opportunity to discuss the progress to avert, minimize, and address the impacts of climate change. Supporting Sri Lanka’s climate work, we have several programs from COP26 Glasgow Pact and The Commonwealth Blue Charter, to the Blue Planet Fund.
At the G20, the British Prime Minister announced that the UK will provide $2bn (£1.62bn) to the second replenishment of the Green Climate Fund (GCF), covering 2024-27. T
his is the biggest single funding commitment the UK has made to help the world tackle climate change by supporting countries to reduce global emissions and help communities adapt.
She lauded the Sri Lankan Government’s prioritization of green growth, including plans to achieve net zero by 2050 and 70% renewable energy in electricity generation by 2030, their National Determined Contribution (NDC) and 2022 Climate Prosperity Plan.