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EU launches strategy to boost investment in Lanka’s food sector

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Indrajith Boyagoda (Secretary General, Sri Lanka Banks’ Association), Dilanthi Ranaweera (Head of ESG, Silvermill Group of Companies), Dr. Nuwan Gunarathne (Director, Research Centre for Management Studies and Commerce, University of Sri Jayewardenepura), and Shayani Weeresinghe (Sustainable Business Specialist, Expertise France) during the the panel discussion

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.



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‘Vision’ Programme Marks Two Years

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Marking the completion of two years of the ‘Vision’ Programme, students from Pinnawala Central College and Matale Siri Seevali College were given an opportunity on Thursday (24) to visit the Presidential Secretariat.

The ‘Vision’ Programme was launched for schoolchildren jointly by the Presidential Secretariat, the Ministry of Education and the Department of Communication of the Parliament of Sri Lanka.

Following a visit to the former Parliament building at the Presidential Secretariat, the students were also briefed on the history of Parliament.

The role of the President’s Fund and its importance to schoolchildren were explained by Senior Additional Secretary to the President Roshan Gamage.

The ‘Vision’ commemorative book, featuring the two-year journey of the ‘Vision’ Programme and its special activities, was also presented to the participating schools.

As part of the programme, valuable plants were also presented to the schools as a symbolic gesture underscoring the importance of environmental conservation.

Director General of Public Relations Dharmasiri Gamage, the Director and Assistant Director of the Tri-Services Security Coordination Unit, the principals and teaching staff of Pinnawala Central College and Matale Siri Seevali College, and students were among those present on the occasion.

President’s Media Division (PMD)

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Sajith vows to scrap 22A under future govt.

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Sajith at yesterday’s protest

Opposition and SJB Leader Sajith Premadasa yesterday vowed that an SJB government would repeal the 22nd Amendment (22A) to the Constitution.Premadasa made the pledge while addressing thousands of SJB supporters who gathered near Parliament to protest against 22A.

Addressing the rally at Polduwa Junction, Battaramulla, Premadasa said the proposed constitutional amendment would undermine democracy and judicial independence and enable the concentration of political power in the Executive.

“Even if they pass it, under an SJB government we will scrap it,” Premadasa told the gathering, claiming that 22A was aimed at paving the way for a one-party state and placing the State under the control of a single political party.

Braving the rain, Premadasa said they had gathered there peacefully and had no intention of resorting to violence.

“We have gathered here to protect democracy,” he said, challenging the government to hold Provincial Council elections if it was confident of facing the people.

Premadasa said the SJB was prepared to work with any democratic and clean political force committed to the country’s progress and public welfare, amid ongoing discussions on cooperation among Opposition parties, including the United National Party.

Premadasa also accused groups aligned with the government of attempting to discourage people from attending the protest through statements and other measures.

SJB General Secretary Ranjith Madduma Bandara said the protest had been organised against the proposed amendment, which the party had opposed on the grounds that it could pave the way for authoritarianism.

The demonstration began around 9 a.m. at Polduwa Junction and coincided with Parliament taking up the proposed 22nd Amendment for debate. Proceedings on the Bill are scheduled to continue today (25).

The Supreme Court has determined that the proposed amendment does not require approval at a referendum and could be passed with a special majority in Parliament.

Meanwhile, traffic congestion was reported on roads surrounding Parliament and Polduwa Junction following the demonstration.

Security was also tightened in and around the Parliamentary complex, with a heavy police presence observed at Polduwa Junction and near the main entrance to Parliament.

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Two retired female Navy officers remanded over disappearance of two women during war

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Two retired female Navy petty officers were ordered to be remanded until October 5 over their alleged involvement in the abduction and disappearance of two women in Trincomalee during the war.

Trincomalee Chief Magistrate M.S.M. Samsudeen yesterday ordered that the two suspects be remanded and directed that they be produced for an identification parade on October 5.

The suspects, residents of Chilaw and Haputale, were arrested after appearing before the CID in connection with another court case. They were subsequently produced before the Trincomalee Magistrate’s Court.

The court was informed that the investigation concerned the alleged abduction of Sasikumar Thenmoli and Mary Delsia, residents of Paalaiyootru, Trincomalee, on or around May 13, 2008.

The CID told court that information uncovered during its investigations indicated that the two women had allegedly been detained at an underground location known as the “Gun Site” at the Trincomalee Naval Base while the two suspects were serving in the Navy. The women were subsequently reported missing.

Further investigations into the alleged abduction and disappearance of the two women are continuing.

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