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EU launches strategy to boost investment in Lanka’s food sector
The European Union funded CIRCULAR project launched an Access to Finance Strategy for promoting Circular Economy investments in the food sector in Sri Lanka, the EU said in a release.
The launch event included a presentation of the Diagnostic and Strategy Report, “Financing Circular Economy Investments in the Food Sector in Sri Lanka”. It identifies challenges across both the demand and supply sides of financing, and highlights opportunities on how market actors can integrate circularity across food systems and build investor confidence for accessing sustainable financing.
The European Union-funded CIRCULAR project launched an Access to Finance Strategy for promoting Circular Economy investments in the food sector on 28 October at the Granbell Hotel in Colombo. The event was inaugurated by Dr. Johann Hesse, Head of Cooperation at the Delegation of the European Union to Sri Lanka and the Maldives. Representatives from the Ministry of Environment, the food sector, financial institutions, academia, and development partners took part in the event, supporting efforts to transition Sri Lankan agri and food sector towards a circular economy.
The CIRCULAR project, implemented by Expertise France, the Food and Agriculture Organisation of the United Nations (FAO), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), aims to reduce food waste and loss and single-use plastics by promoting circular business models and fostering innovation in the food sector. The initiative contributes to strengthening resilience against food crises and climate change while supporting Sri Lanka’s green transition.
“Today, we take a step forward in our partnership with Sri Lanka to overcome these challenges to finance investments to enable the transformation into a circular economy. These challenges are not unique to Sri Lanka; rather, they are shared globally. This initiative embodies a shared vision between the European Union, an its Global Gateway strategy, and Sri Lanka — one that seeks not only to enhance our collaborative efforts but to transform our commitments into tangible and meaningful action”, said Dr. Hesse at the event.
Presenting key findings from the Diagnostic and strategy report “Financing Circular Economy Investments in the Food Sector in Sri Lanka”, Habbipriya Karthigesan, Sustainable Finance Specialist at Expertise France, highlighted that food businesses face high upfront costs, long payback periods, and limited technical expertise to adopt profitable circular practices. On the supply side of financing, financial institutions often perceive circular investments as risky and seek third-party validation.
“Bridging financing gaps in the circular economy requires collective action,” said Ms. Habbipriya. “Businesses need guidance to identify and develop bankable proposals, while financial institutions must reassess and adapt traditional risk frameworks. Several market actors can play an enabling role in validating and building confidence in circular financing.”
Building on these insights, the CIRCULAR project developed its Access to Finance Strategy around:
1. Building evidence and demonstrating the business case for Circular Economy in the food sector
2. Supporting businesses requiring USD 500,000 to USD 5 million for their circular transition through mentoring, circular clinics and investor matchmaking
3. Strengthening financial sector capacity by facilitating knowledge transfer with European banks for embedding risk assessment tools and for developing tailored financial products
4. Partnering with enabling market actors that can provide circular technologies, solutions, certifications and expertise to address perceived investor risks
The launch event also featured a panel discussion, titled “Farm to Finance: Unlocking Capital for Circular Food Systems,” moderated by Ms. Shayani Weeresinghe, Sustainable Business Specialist at Expertise France. Panelists included Ms. Dilanthi Ranaweera, Head of ESG, Silvermill Group of Companies, Indrajith Boyagoda, Secretary General of the Sri Lanka Banks’ Association and Dr. Nuwan Gunarathne, Director of the Research Center for Management Studies and Commerce at the University of Sri Jayewardenepura. The discussion explored how market actors can integrate circularity across food systems and build investor confidence for accessing sustainable financing.
News
India should be kept out of PC polls, matters related to 13 A – Mano
Leader of the Tamil Progressive Alliance (TPA), Mano Ganeshan, MP, said that India shouldn’t intervene here regarding the long-delayed Provincial Council polls.
The former Yahapalana Minister of National Co-existence, Dialogue and Official Languages (2015-2018), Ganeshan, who represents the main Opposition Samagi Jana Balawegaya (SJB) in the current Parliament, stressed that New Delhi’s intervention wouldn’t do any good for them or for us.
Lawmaker Ganeshan said so when The Island asked him whether the TPA would ask India to pressure the NPP government to conduct PC polls, last held in 2014, during Mahinda Rajapaksa’s second term. Ganeshan said: “India shouldn’t get involved in the issue at hand . Such a strategy is also in their interest, particularly in the context of the evolving global order. India should not be perceived as a pro-Tamil state, but rather as a state that supports Sri Lanka as a whole.”
Ganeshan said that the Indian state bears a moral responsibility in this matter. “That responsibility arises from the fact that India’s diplomacy and military intervention played a decisive role in neutralising the Tamil armed struggle in Sri Lanka. Although India’s mission remained unfinished, it nevertheless lost nearly two thousand soldiers in the process. There was also a prelude to this involvement, when Tamil militant groups received training in India. Consequently, the Indian connection became a sensitive issue for both the Sinhalese and Tamils of Sri Lanka.”
But, whatever had happened, the national issue should be settled among us. ” The solution must be found and settled within Sri Lanka itself. We do not need Western interventions in this regard.”
” In recent years, whenever we in the Tamil Progressive Alliance (TPA) have met Indian dignitaries—including the Prime Minister, the External Affairs Minister, and, most recently, the Vice President—the subjects of the 13th Amendment and Provincial Councils have never featured on our agenda.”
The 13th Amendment is part of Sri Lanka’s Constitution. Therefore, it is for Sri Lankans themselves to decide whether to retain, improve, fully implement, reform, or even repeal it, Ganeshan said.
MP Ganeshan found fault with those who represented the Northern and Eastern provinces for failing to utilise the goodwill and influence India enjoyed with successive Governments of Sri Lanka to pursue an amicable political settlement. The parliamentarian said that they should acted after the end of the war in May, 2009. Unfortunately, they failed to effectively use the Provincial Council framework to consolidate their political position and advance further, thereby earning the confidence of both India and successive Sinhala-majority governments, MP Ganeshan said.
Responding to another query, MP Ganeshan said: “
We should keep the ethnic issue separate from bilateral relations with India, while deepening economic connectivity and cooperation on the basis of mutual benefit and a win-win partnership.”
By Shamindra Ferdinando
News
US boost for SLAF
Sri Lanka has taken delivery of 10 TH-57 ‘Sea Ranger’ multi-role helicopters provided by the United States of America to the Sri Lanka Air Force. Air Forces headquarters said that the helicopters arrived here by sea.
The SLAF has said: “The arrival of these aircraft marks a significant milestone in the longstanding defence cooperation between Sri Lanka and the United States and represents a valuable contribution towards enhancing the operational and training capabilities of the Sri Lanka Air Force.
“The helicopters are currently undergoing configurations and technical preparations at SLAF Base Ratmalana. Following the completion of requisite inspections, acceptance procedures and test flights, the aircraft will be inducted into service and deployed for operational duties.
“The TH-57 fleet is expected to significantly strengthen the Air Force’s aviation training capacity while enhancing the ability to support a broad spectrum of national requirements. The aircraft will primarily be employed for pilot training, humanitarian assistance and disaster response (HADR) operations, search and rescue (SAR) missions and other public service commitments undertaken by the Sri Lanka Air Force.”
News
TPA demands House committee to probe Tilvin’s claim PC polls cannot be held due to fund constraints
Referring to the recent declaration made by JVP General Secretary Tilvin Silva that the Provincial Council elections couldn’t be held this year as funds allocated for that purpose were utilised to provide Ditwah cyclone relief, Tamil Progressive Front (TPA) leader Mano Ganeshan, MP, has asked Dr. Harsha de Silva, MP Chairman, Committee on Public Finance, to inquire into the issue at hand and take action deemed appropriate.
The text of MP Ganeshan’s letter: “I write with reference to a statement reportedly made by Tilvin Silva, General Secretary of the Janatha Vimukthi Peramuna (JVP), the principal constituent party of the National People’s Power (NPP) Government.
According to media reports, Silva stated, in substance, that funds allocated and set aside for the conduct of Provincial Council Elections had been utilised by the Government for disaster-rebuilding and related purposes.
While he is reported to have made further remarks, I confine my attention to the above statement, which raises a serious matter concerning public finance and parliamentary oversight.
To the best of my knowledge, Parliament has not approved any transfer or reallocation of funds, earmarked for Provincial Council Elections, to any other expenditure head or purpose. If the statement, attributed to Mr. de Silva, is accurate, it may indicate that such funds have been utilised without the requisite parliamentary authorisation.
In view of the above, I respectfully request that the Committee on Public Finance inquire into this matter and ascertain whether any transfer, reallocation, or expenditure of funds allocated for Provincial Council Elections has occurred in a manner inconsistent with parliamentary approval and financial regulations.
I would be grateful if the Committee could examine the facts and take any action deemed appropriate within its mandate.”
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