European Union (EU) will be providing technical assistance to the tune of an Euro five million grant to aid Sri Lankan small and medium enterprises (SMEs) to promote a ‘green and circular economy,’ the EU in a posting on its website on Wednesday (10 May) said. ‘Expertise France,’ a French Government agency will be the project implementor.
“The objective is to create a technical assistance platform where the EU and Sri Lanka can share their policy experience and ultimately promote transfer of technology between European and Sri Lankan companies, facilitating investment in innovative solutions in response to our global environmental challenges,” the EU further said.
“This Team Europe Initiative on Green Recovery will mainly focus on circular economy in the food industry and on valuing and protecting Sri Lanka’s rich biodiversity. It will also support EU member States in developing, financing and implementing additional initiatives in the country,” the statement added.
The project, known as the Green Policy Dialogue Facility (GPDF) to be launched shortly, the EU, quoting European Commission’s (EC’s) Directorate General for International Partnerships South and South East Asia Unit Head Mario Ronconi, said, “This four-year initiative will be implemented by Expertise France, part of the AFD group ( French Government’s French Development Agency) and a member of the Team Europe Initiative in Sri Lanka, will accompany Sri Lankan authorities and society to lay down the foundation for a transition towards a green and inclusive economy and society.”
The Facility (GPDF) will support policy implementation to achieve a green and blue economy that is circular, carbon neutral and respectful of biodiversity resources and it will be implemented in partnership with Sri Lankan public institutions, in particular the Environment and Finance ministries as well as Government institutions focusing on SMEs, it said.
Expertise France CEO Jérémie Pellet said that this will be the first project implemented by Expertise France in Sri Lanka. “As part of the AFD Group, it will strengthen the presence of France, an EU member state, in the country. In doing so, the AFD Group renews and reinforces its ambition to support and accompany Sri Lanka in its transition towards a green, sustainable and inclusive economy,” he added.
EU Ambassador to Sri Lanka Denis Chaibi added. “Promoting a more sustainable lifestyle is at the core of European policies and would also offer new economic opportunities, reduce dependencies and ultimately provide much needed macroeconomic stability and resilience in the country.”
The new Facility was discussed with Sri Lankan authorities during the Development Working Group and the Joint Commission meetings that took place from 8-9 May 2023, a series of high level annual meetings between Sri Lankan authorities and high ranked EU officials of the EC and the European External Action Services, who visited the country to discuss matters related to EU-Sri Lanka relations in trade, human rights and development cooperation, the EU statement further said.