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Two Agreements providing development assistance to Sri Lanka were signed last week with the Government of Sweden at the Ministry of Finance.

The Secretary to the Ministry of Finance Dr. P. B. Jayasundera signs the Agreement on behalf of the Government and Acting Head of Mission of the Swedish Embassy in Sri Lanka Ms. Asa Heijne on behalf of the Swedish Government.

The first Agreement was for continuation of development cooperation between the two countries and the second was for rehabilitation and implementation of education reforms in plantation schools.

The Development Cooperation Agreement sets out general terms and conditions for provision of development assistance.

The Swedish Government has committed Swedish Kronor 270 million (approximately Rs. 3,470 million) as a grant to implement development projects during the period from 2003 to 2005.

Under the second Agreement Sweden will provide a soft loan facility of Swedish Kronor 45 million (approximately Rs. 500 million) through the Swedish Development Cooperation Agency (SIDA) for improvement of schools in the plantation sector. The loan is interest free and repayable in 15 years inclusive of a grace period of nine years.

The objective of the project is to universalise the basic span of education to achieve a high level of student performance in plantation schools.

Proceeds of the loan will be used to rehabilitate and improve facilities of 405 schools in the Central, Uva and Sabaragamuwa Provinces, the Kalutara district and education zones of Galle and Homagama.

The project will be implemented by the Ministry of Community Development and Estate Infrastructure and is expected to be completed by 2006.

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