Sri Lanka receives first of 100 model villages built with Indian assistance
The Indian High Commission in Sri Lanka has announced that the first of 100 model villages to be built in Sri Lanka with Indian assistance was handed over to the residents in Ranidugama, Gampaha on Saturday (6).
The High Commission has stated that the village and houses were ceremonially handed over in the presence of parliamentarians, leaders from Western Province, senior state officials and residents in the region.
India has partnered with the Ministry of Housing and Construction and Cultural Affairs to build the 100 model villages with 2,400 houses across Sri Lanka under an Indian grant of Rs. 1.2 billion, the statement issued by the High Commission noted.
These 2400 houses are in addition to the 60,000 houses built under the Indian Housing Project meant for war affected people in the North and East and the estate workers in the plantation areas, the Indian High Commission has stated.
The High Commission has further stated that India has undertaken over 70 people-oriented development projects in Sri Lanka across various fields including health, education, housing, skill development, infrastructure as well as vocational training and one of the projects includes the largest University Auditorium in Ruhuna University in Matara.
Accordingly, about 20 such projects are currently under progress.
The overall development portfolio of the Government of India in Sri Lanka is close to US$ 3 billion, out of which US$ 560 million are in grants, the High Commission has added.
OSL take:
The handing over of the first of 100 Indian funded model village in Sri Lanka is indicative of the strong bilateral and trade ties between the two countries. Also, a look at the overall development portfolio of India in Sri Lanka and the value of grants provides indicates that India is and would remain a close development partner of Sri Lanka. The two countries enjoy a free trade agreement that further boosts trade ties between the two countries. Sri Lanka enjoys many preferential treatments when engaging in business with India. Foreign businesses/investors looking at doing business with India could look at setting up base in Sri Lanka to engage with India using the local preferential facilities. Also, Indian businesses could explore business/investment opportunities in Sri Lanka or look at forming business partnerships with Sri Lankan businesses and vice versa.
| Article Code : | VBS/AT/08072019/Z_7 |