Jan 30, Colombo: The Governments of Sri Lanka and Australia Tuesday signed a regulatory agreement for AUD 31 million (Rs. 3.85 billion) grant assistance for a four-year program to strengthen good governance for growth in Sri Lanka.
Secretary to the Ministry of Finance and Mass Media Dr. R H. S. Samaratunga and Australian High Commissioner for Sri Lanka Mr. Bryce Hutchesson signed the agreement on the 30th of January 2018 at the Ministry of Finance and Mass Media.
The program will support activities that improve the policy formation and delivery capabilities of government at national, provincial and local levels to bring about inclusive economic growth, the Finance ministry said in a statement.
The governance for growth program aims to support Sri Lanka's efforts to increase economic growth and spread the benefits of that growth to reduce poverty and inequality in the country.
Some of the activities under the program include a partnership with the World Bank to support the Sri Lankan Government's implementation of national economic reforms, and work with the Asia Foundation to strengthen public sector service delivery at the sub-national level, including for women and people with disabilities.
The program will also provide opportunities for research collaboration and building of institutional linkages to support the quality of Sri Lanka's economic decision-making and public service delivery, for example, by funding a national State of the Cities report to support urban planning and development decision-making.
The Ministry of Finance and Mass Media will act as the Sri Lankan counterpart of the Governance for Growth program overall, with a key role in contributing to strategic management of the program.