The Department of External Resources is responsible for mobilizing and coordinating foreign development assistance to Sri Lanka. ERD facilitates achieving the development objectives highlighted in the Development Policy Framework of the Government of Sri Lanka..
Shaping the future of Sri Lanka by mobilizing global knowledge, expertise and external financing for accelerated economic growth.
Facilitate mobilizing external financing at affordable cost with minimum conditionality in support of the economic and social development of Sri Lanka while supporting long term debt sustainability of the country.
Conduct consultations with development partners to identify development assistance strategies and priorities.
Co-ordinate Annual Country Aid Programming activities of the development partners in consultation with the line Ministries/Agencies.
Prepare project pipelines for foreign financing in consultation with the line Ministries/Agencies, National Planning Department
Co-ordinate activities of donor missions from the fact finding stage to the appraisal stage.
Negotiate foreign aid and make arrangements for signing of loan/grant agreements and make them effective. Activities involved;
o conduct loan negotiations with the development partners & lending agencies;
o obtain Government approval and authority for signing of agreements;
o sign subsidiary loan agreements with the implementing agencies; and
o fulfill conditions prior to effectiveness of the loan agreements.
Oversee implementation of donor funded projects by;
o coordinating activities connected with the review missions fielded by the development partners and follow-up on actions recommended;
o participating in Steering Committees set-up by the line Ministries to monitor implementation of foreign funded projects and reviewing implementation of projects jointly with the development partners;
Manage foreign training opportunities provided by donors under Technical Cooperation Programmes
Manage of Government external debt database by;
o maintaining a database on foreign loan/grant commitments, disbursements and repayments for various users such as line Ministries, Treasury, Central Bank and individual project offices;
o providing information with regard to servicing of foreign debt to the Superintendent of Public Debt, CBSL; and ,
o publishing information on foreign aid and foreign training placements provided by the donors
Arranging local bank financing for development projects