Sri Lanka signs finance agreement with IFAD to strengthen rural households
The International Fund for Agricultural Development (IFAD) and the Sri Lankan government have signed a 33.7 million dollar financing agreement that will help 57,500 rural households in Sri Lanka, a Foreign Ministry statement said here Tuesday.
The agreement will increase the families’ incomes and food security by expanding livelihood and business opportunities in agriculture.
The agreement was signed by Gilbert F. Houngbo, president of IFAD and R. H. S. Samaratunga, Secretary to Treasury and the Ministry of Finance and Mass Media of Sri Lanka.
The new Smallholder Agribusiness Partnerships program will provide a platform for smallholder farmers in Sri Lanka, particularly for women and young people, to access financing and business training and will help them to form partnerships with each other and with the private sector.
IFAD has been working with Sri Lanka since 1978, investing a total of 317.2 million U.S. dollars in 18 programs and projects which reach over 614,832 households.
(Xinhua)
Latest Headlines in Sri Lanka
- Sri Lanka turns to Indian and Russian companies to manage Chinese-funded Airport April 26, 2024
- Sri Lanka’s state revenue surges to record Rs. 834 Billion in first quarter 2024 April 26, 2024
- Army soldier killed, 9 injured in Mankulam cab-lorry collision April 26, 2024
- Electricity trade unions to take legal action against Sri Lanka Electricity Bill April 26, 2024
- Gotabaya Rajapaksa refutes Cardinal Ranjith’s allegations on Easter Sunday Attacks April 25, 2024