AsianScientist (Sep. 12, 2011) – Australia and the Netherlands are helping Sri Lanka kick start its dairy industry with a loan of US$12 million, said Sri Lanka’s Ministry of Finance & Planning in a statement today.
The Cooperatieve Centrale Raiffeisen-Boerenleenbank (Rabobank) of the Netherlands and the Export Finance Insurance Corporation (EFIC) of Australia will provide the loan in two phases.
In the Mahinda Chintana Policy document, Sri Lankan officials said that the money will be put into introducing improved breeds, feed resources, better animal health, developing a collection and processing network, research, and extension services.
The finance ministry noted that arrangements have been made to increase the milk production of Sri Lanka by importing 4,500 dairy animals from Australia.
The livestock will be sent to farms belonging to the National Livestock Development Board (NLDB) at three locations in the country.
In the first phase, 2,000 dairy animals will be imported to the Bopaththlawa farm; and in the second phase, 2,500 dairy animals will be imported to the Nikaweratiya and Siringapatha farms.
The total cost of phase one is US$12.9 million, of which 81 percent will be covered by Rabobank and EFIC financing. The remaining 19 percent of the project cost (US$2.4 million) will be provided by Rabobank.
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Source: The Treasury of Sri Lanka.
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