Mar 19, Colombo: The government of Japan has granted approximately Rs.3.7 billion (Japanese Yen 2.678 billion) to Sri Lanka for implementation of four projects for meeting the urgent needs in sectors such as fisheries, roads and health to promote socio-economic development.

Prime Minister of Japan Shinzo Abe has pledged this assistance at the Summit Meeting with Sri Lankan President Mahinda Rajapaksa, during his visit to Japan on March 12-15 as a part of his intention to continue cooperation for Sri Lanka's sustainable development, the Japanese Embassy in Colombo said in a release.

The signing of the Exchange of Notes took place Monday between Ambassador of Japan to Sri Lanka Mr. Nobuhito Hobo, and Secretary, Ministry of Finance and Planning Dr. P.B. Jayasundera at the Ministry of Finance and Planning. The signing of the Grant Agreement took place between Chief Representative of JICA, Sri Lanka office Mr. Harumi Ao, and Dr. P.B. Jayasundera.

A grant of Rs. 1.31 billion (Japanese Yen 988 million) has been given for the for the construction of a Grab Hopper dredger to meet the frequent demand for maintaining the operational depth of fishery harbors around the country in order to ensure uninterrupted access for fishing activities.

The currently used Grab Hopper dredger was gifted by Japan in 1989 and needs to be replaced due to frequent repairs.

Japan has granted approximately Rs. 1.24 billion (Japanese Yen 940 million) for purchase and installation of Variable Message Sign (VMS) systems on expressways for efficient traffic management aimed at improving traffic flow and minimizing road hazards.

A Rs. 264 million grant has been provided under the Non-Project Grant Aid for procuring machinery/apparatus, as well as electric/electronic equipment that are manufactured by Japanese small and medium enterprises for use in the health sector of Sri Lanka.

Another Rs. 726 million (Japanese Yen 550 million) was provided under the Non-Project Grant Aid for provision of Japanese medical equipment for procuring a range of medical equipment manufactured in Japan for improving Sri Lanka's curative health care services and providing the people with access to modern health care services in the country.