The International Fund for Agricultural Development (IFAD) entered an agreement with the Sri Lankan government to fund the country’s small tea and rubber plantations through the Smallholder Tea and Rubber Revitalization (STARR) Programme.
The STARR Programme will be implemented by the Sri Lankan government and will be funded by IFAD.
The project will assist improving the tea yields in 5,500 hectares in Matara, Galle, Ratnapura, Badulla and Kandy Districts and the Rubber yields in 3,000 hectares in Monaragala and Ampara Districts.
According to IFAD, the program will benefit tea estate settlers and marginalized small-scale tea producers. The rubber smallholders program will benefit poor upland food crop farmers in Monaragala and Ampara districts who want to take up rubber cultivation.
The total investment of the project amounting to US$ 65.4 million and US$ 25.7 million will be granted by the IFAD.
The Cabinet of Ministers approved the proposal put forward by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to enter into an agreement with the IFAD to obtain financial assistance.