The government signed a grant agreement with the European Union (EU) today (23) to launch a new initiative aimed at fostering sustainable economic recovery through improved biodiversity conservation and solid waste management.

The EUR 8 million grant, provided by the European Union, will support a project jointly developed by the Ministry of Public Administration, Provincial Councils and Local Government, the Ministry of Environment, and the EU.

The initiative will support biodiversity conservation by restoring degraded ecosystems, implementing targeted conservation strategies, and promoting sustainable land-use practices. It will also address the growing need for effective solid waste management systems, contributing to both environmental protection and improved public health, the Ministry of Finance, Planning and Economic Development said in a statement.

This project aligns closely with the government”s national policy statement, “A Thriving Nation – A Beautiful Life”, which acknowledges the urgent need to balance economic development with environmental sustainability, according to the Finance Ministry statement.

The Ministry stated that the government recognizes that past efforts have fallen short in creating an eco-friendly and resilient economy, and the partnership with the EU is a significant step forward in strengthening that course.

The grant agreement was formally signed today by Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning and Economic Development, on behalf of the government and Carmen Moreno, Ambassador of the European Union to Sri Lanka, on behalf of the EU.

“Biodiversity is one of the most important assets of Sri Lanka, and through this project we will work together with the authorities to strengthen its protection by improving management of waste. EU experience, technology and private sector investments are key elements in the project that will support Sri Lankan policies to connect to the world. Protection of biodiversity contributes to the global health and the fight against climate change”, said Ambassador Carmen Moreno, highlighting how the European Union contributes to these connections through the Global Gateway Strategy.

The Secretary of the Ministry of Finance, Planning and Economic Development expressed sincere appreciation to the European Union for its valuable support, noting that the project aligns closely with Sri Lanka”s sustainable development agenda and its dedication to protecting biodiversity.