India finances IT incubator in Sri Lanka’s Jaffna

ECONOMYNEXT – India is giving a 250 million-rupee grant to set up an information technology incubator in Jaffna in Sri Lanka’s North as part of 560 million dollars given in grants so far.

"This project is part of Government of India’s continued efforts to assist and cooperate with Government of Sri Lanka in people-oriented development projects," the High Commission of India said.

"The Business Centre would provide opportunities and enhance the enabling environment for Information Communication Technology (ICT) and other professional services in the Northern region."

The agreement for the funds was signed by High Commissioner of India to Sri Lanka Taranjit Singh Sandhu, and Secretary, Ministry of Development Strategies and International Trade S. T. Kodikara.

India also gave grants, which do not have to be repaid, to set up a paramedic ambulance service in the country.

India has committed a total of 3.0 billion US dollars, out of which 560 million dollars are grants. (Colombo/Feb21/2019-SB)