By: Staff Writer
Colombo (LNW):The European Union and Expertise France signed an agreement to set up a Green Policy Dialogue Facility (GPDF) and support Sri Lanka’s ambition in developing a green and circular economy and ensuring its long-term macro-economic stability.
In response to the pressing global environmental challenges and current economic and financial crisis in Sri Lanka, the European Union (EU) and its Team Europe partners will shortly launch the Green Policy Dialogue Facility (GPDF).
The new Facility was discussed with Sri Lankan authorities during the Development Working Group and the Joint Commission meetings that took place on 8th and 9th of May 2023.
A series of high level annual meetings was held between Sri Lankan authorities and high ranked EU officials of the European Commission 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.
Mario Ronconi, Head of Unit for South and South East Asia, Directorate General for International Partnerships, leading the mission of the European Commission, explained that “this four-year initiative will be implemented by Expertise France.
It was part of the AFD group (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.
Denis Chaibi, EU Ambassador to Sri Lanka, added that “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 Facility 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 Ministry of Environment and the Ministry of Finance, as well as government institutions focusing on SMEs.
The objective is to create a technical assistance platform where the European Union 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.
With a 5 million euro budget, the Facility will be part of a series of financial assistance to be rolled out between 2021 and 2027 under the Team Europe Initiative on Green Recovery, which will mainly focus on the 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.
Jérémie Pellet, CEO of Expertise France, announced that this will be the first project implemented by Expertise France in Sri Lanka. “
