Netherlands assists Sri Lanka’s connectivity improvement and vocational training

Netherlands assists Sri Lanka’s connectivity improvement and vocational training

17 October 2019 12:59 pm

Netherlands will be providing financial assistance for Sri Lanka’s connectivity improvement under 200 rural bridges programme and vocational education and training for youth.    

Two agreements were signed, on Thursday 10th, between the Government of Sri Lanka and Rabobank of the Netherlands amounting to EUR 70.7 million (Approximately Rs. 14.1 billion) for construction of rural bridges and Establishment of National Vocational Training Institute at Hingurakgoda, Polonnaruwa. 

The financing agreement was signed by Secretary to the Ministry of Finance, Dr. R. H. S. Samaratunga and Director- Rabobank,Mr. Han Bartelds, in the presence of the Ambassador of theNetherlands, Ms. Tanja Gonggrijp, at the Ministry of Finance. 

Government has accorded high priority for connectivity improvement within the country with a view to providing full benefits from mainstream development activities in the country to the remote villages as well.

‘Construction of Rural Bridges Project’ aiming at connecting rural areas to the developed regions by constructing 200 rural bridges have been initiated by the Government few years ago.

One of the most priorities of the Government is to make competent people who will be participating in the national development of the country. In this regard the Government is willing to introduce knowledge mechanisms to provide required knowledge competencies. 

The Rabobank of the Netherlands will provide two Export Credit Facilities to cover 75% of the each contract cost. The Balance 25% of the each contract cost will be financed by two grants extended by the Development Related Infrastructure Investment Vehicle (DRIVE) of the Dutch Government.