overall partnership portfolio around USD 5 bn

The Indian High Commission in Colombo announced yesterday (01) that the Government of India (GOI) has increased the financial allocation for various grant projects being implemented in Sri Lanka.

The IHC spokesperson said: “Financial allocation has been increased by up to 50% in respect of nine ongoing projects which are being executed under the India-Sri Lanka High Impact Community Development Project (HICDP) framework. The overall financial commitment for these nine projects currently stands at close to SLR 3 billion, after the increase. These projects cut across sectors, ranging from education and health to agriculture, among others.

GOI has completed more than 60 grant projects, under the HICDP framework, covering all 25 Districts of Sri Lanka. In addition, 20 other projects are under different stages of implementation. The HICDP framework was signed, between the two countries, in 2005, and, subsequently, renewed thrice, for a period of five years, each time. It may be recalled that GOI also doubled the ceilings for individual projects, as well as the overall financial capital outlay under the framework, in January 2023.

GOI’s overall development cooperation partnership portfolio, in Sri Lanka, is around USD 5 billion, of which USD 600 million is grant. Demand-driven and people-centric projects carried out by GOI span across areas such as infrastructure development, housing, livelihood assistance, etc. The 1990 Emergency Ambulance Service, Railway Track rehabilitation, Integrated Water Plants, Indian Housing Project and Jaffna Cultural Centre are among the landmark undertakings.”