India has committed a grant of Rs.290 million for the rehabilitation of Sri Lanka’s Karainagar Boatyard, marking a significant step in enhancing the local fisheries sector. 

The project, aimed at improving infrastructure and creating job opportunities, was formalised in an Memorandum of Understanding (MOU) signed by Indian High Commissioner H.E. Santosh Jha and High Commissioner of Sri Lanka to India H.E. Kshenuka Dhireni Senewiratne on 16 December, 2024.

The rehabilitation will include civil works, machinery installation, and procurement of equipment, benefiting local fishermen and improving fisheries product supply.