The Department of External Resources of the Ministry of Finance and Planning is responsible for mobilizing and coordinating foreign assistance to Sri Lanka. We facilitate achieving the development objectives highlighted in the Development Policy Framework of the Government of Sri Lanka; “Sri Lanka - The Emerging Wonder of Asia"
To be well equipped with knowledge and expertise required to mobilize and manage external finances for accelerated economic growth of Sri Lanka as the country elevates to higher –middle income status.
Mobilize external financing at least possible cost in support of “Sri Lanka - The Emerging Wonder of Asia: Development Policy Framework of the Government of Sri Lanka” while maintaining long term debt sustainability of the country.
What we do and our Goals
Conduct consultations with donors to identify development assistance strategies and priorities.
Co-ordinate Annual Country Aid Programming activities of the donors in consultation with the line Ministries/Agencies.
Prepare project pipelines for donor funding in consultation with the line Ministries/Agencies, National Planning Department and the Advisory Committee
Co-ordinate formulation of projects proposed for donor funding by facilitating the conduct of feasibility studies by the donors or consultants engaged by donors and coordination of 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;
-coordinate with line Ministries/Agencies with regard to the fulfillment of any conditionalities connected with the negotiation and signing of loan agreements;
-conduct loan negotiations with the donors;
-obtain Government approval and authority for signing of agreements;
-sign subsidiary loan agreements with the implementing agencies; and
-fulfill conditions prior to effectiveness of the loan agreements.
Conclude banking arrangements and arrange advance procurement activities. Initiate actions relating to the establishment of Project Management Units.
Obtain donor concurrence for project procurement and submission of reimbursement claims to the donors.
Oversee implementation of donor funded projects by;
-coordinating activities connected with the review missions fielded by the donors and follow-up on actions recommended;
-maintaining a database on monitoring of donor funded projects;
-participating in Steering Committees set-up by the line Ministries to monitor implementation of donor funded projects;
-reviewing implementation of projects jointly with the donors; and,
-participating in monitoring meetings conducted by the Ministry of Policy Development and Implementation.
Manage foreign training opportunities provided by donors under Technical Cooperation Programmes
Manage foreign experts and overseas volunteers provided by donors.
Administer the budget on donor funds re-lent to the private sector through the banking system.
Manage of Government external debt database by;
-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;
-providing information with regard to servicing of foreign debt to the Superintendent of Public Debt, CBSL; and ,
-publishing information on foreign aid and foreign training placements provided by donors