MoU to develop SMIs
Rs 60 million to be disbursed among 40
industrialists:
The Traditional Industries and Small Enterprise Development Ministry
signed a Memorandum of Understanding (MoU) with the Aid Agency for
Technical Co-operation (ACTED) for the development of small and medium
scale industries in the Eastern Province at the ministry premises
recently.
|
The MoU being exchanged |
Accordingly, Rs 60 million will be disbursed among 40 industrialists
in the Trincomalee and Batticaloa districts, each entitling to Rs 1.5
million for working capital including machinery and equipment. Technical
know how, exportation, marketing, introduction of modern designs and
local raw material required for the development of the SMIs will be
provided by the ministry.
Financial assistance for the proposed project will be made available
to the ACTED by the European Union and the supervision and monitoring
will be carried out by the ministry.
The MoU was signed by V Sivagnanasothy on behalf of the ministry and
permanent representative to ACTED Andrew String in the presence of
Minister Devananda. Ministry Director for SMI Projects Gamage also
participated. |
