Sri Lanka signs EUR 8 million grant agreement with EU for sustainable agriculture programme
The Morning: Sri Lanka has signed a EUR 8 million grant agreement with the European Union to launch a new sustainable agriculture programme under the AgriGreen Initiative, aimed at supporting green economic growth and environmentally responsible production practices.
The grant will fund the AgriGreen Initiative – Green Economic Growth through Sustainable Agriculture Practices project, which focuses on selected value chains within the rubber sector. The initiative seeks to strengthen sustainable consumption and production while supporting food security as Sri Lanka transitions toward a greener growth model.
According to the Ministry of Finance, Planning and Economic Development, the project was jointly developed by the Ministry of Plantation and Community Infrastructure, the Rubber Development Department, and the Rubber Research Institute of Sri Lanka, in partnership with the European Union. The programme places particular emphasis on youth and women, with the objective of promoting inclusive participation in sustainable agricultural value chains.
The grant agreement was formally exchanged on behalf of the Government of Sri Lanka and the European Union, marking the official commencement of the initiative.
OSL take:
Sri Lankan authorities are focused on adopting sustainable solutions as the country moves forward as an emerging business destination in the South Asian region with increasing demands in all key economic sectors. While the country has already turned towards sustainable energy generation solutions, Sri Lankan authorities are also focused on adopting sustainable solutions in the country’s agriculture industry, which is on a growth path with an increasing demand. Sri Lanka’s agriculture industry presents a host of business/investment opportunities due to the continuing demand for expansion to meet the demand in the local market as well as in the global market through agricultural and agriculture-based exports. However, the adoption of sustainable agricultural solutions has presented new business/investment opportunities with many businesses already engaged in the country’s agriculture industry opting for such while foreign businesses that are also exploring opportunities in the industry have shown interest in sustainable agriculture practices. All these factors as well as the funding being allocated by foreign funding agencies indicate that there are emerging business/investment opportunities in Sri Lanka’s agriculture industry, with special focus on the sustainable agriculture sector. Given that Sri Lanka is on an expansion path along with industries like agriculture and sectors related to it, foreign businesses/investors could explore the expanding business/investment opportunities in the sustainable agriculture sector while also looking at expanding operations through local collaborations.
| Article Code : | VBS/AT/20260113/Z_3 |