Mar 07, Colombo: The government of Japan has agreed to grant over Rs.3.7 billion (Japanese Yen 2.678 billion) to Sri Lanka for implementation of four projects to promote socio-economic development.

A grant of Rs 1.38 billion rupees has been given for the procurement of a self-propelled grab hopper dredger to develop the fishery industry.

A study conducted by the Japan International Cooperation Agency (JICA) on a request by the Sri Lankan government has found that existing maintenance dredging capacity is insufficient at the country's fishery harbors.

A new dredging machine will add an annual dredging capacity of 63,000 cubic meters to the existing fleet.

Japan has granted approximately Rs.1.32 billion (Japanese Yen 940 million) for the development of an Intelligent Transport Information System for expressways in Sri Lanka to provide necessary road traffic information to road users.

A grant of approximately Rs.770 million has been allocated to provide medical equipment to teaching hospitals, secondary hospitals and medical research institutes, to improve healthcare facilities.

Another grant of approximately Rs.280 million will be used to buy industrial equipment which will help the Island's SME sector.

The Cabinet has grant approval to a proposal made by the President to accept the grant.