The Government of the Democratic Socialist Republic of Sri Lanka and the European Union (EU) signed a financing agreement to promote a circular economy and sustainable consumption and production in the food sector.
The grant of EUR 15 million from the EU aims to increase food availability for vulnerable people through more efficient distribution channels/mechanisms of food, avoiding food waste and/or convert food waste into much needed farming inputs like organic fertilizer, animal feed, etc.
“Sri Lanka face numerous challenges, from resource scarcity to effective protection of environmental and other resources. Within these challenges, however, lies an opportunity to adopt a circular economy model that can transform the development of new technologies, business models, and entrepreneurship and innovation, that foster a thriving economy,” said HE Moreno Carmen, Ambassador of the European Union to Sri Lanka and the Maldives. “Promoting circular economy practices is vital for the country to mitigate the risk of crises in the future and to establish food security and sustainability. The European Union is pleased to support Sri Lanka’s improve the food surplus/waste recovery system and food producers.”