COLOMBO, SRI LANKA, JUNE 10th, 2024–The Global Green Growth Institute (GGGI) and the Government of the Democratic Socialist Republic of Sri Lanka are delighted to announce the official entry into force of the Host Country Agreement (HCA), marking a significant milestone in our collaborative efforts towards sustainable development and green growth.

The Agreement, initially signed on February 7, 2023, has now completed all necessary internal formalities within Sri Lanka, as confirmed by a note verbale from the Embassy of Sri Lanka to the Republic of Korea dated June 5, 2024. This pivotal moment, effective as of June 10, 2024, solidifies the legal status and privileges of GGGI in Sri Lanka, enabling a robust framework for cooperation.

The ratification of this Agreement symbolizes a deepened commitment to fostering sustainable development through innovative green growth strategies. GGGI, an international organization dedicated to supporting and promoting strong, inclusive green growth, looks forward to strengthening its partnership with Sri Lanka. This collaboration aims to address critical environmental challenges while enhancing economic opportunities for the people of Sri Lanka.

H.E. Savitri Panabokke, the Ambassador of Sri Lanka to the Republic of Korea, expressed optimism about the potential impacts of this Agreement: “This Host Country Agreement with GGGI represents a transformative step for Sri Lanka. It not only underscores our commitment to environmental stewardship but also opens new avenues for sustainable economic growth, benefiting our communities and future generations.”

GGGI’s Director-General, Dr. Frank Rijsberman, highlighted the importance of this partnership: “We are thrilled to see the Host Country Agreement come into effect. This milestone reflects our shared vision with Sri Lanka to implement green growth policies that are essential for addressing global environmental challenges. Together, we will work on impactful projects that promote sustainability, resilience, and prosperity.”

Since joining GGGI in 2019, Sri Lanka has embarked on several impactful projects. A key initiative is the National Adaptation Plan (NAP) Readiness Support project funded by the Green Climate Fund (GCF). This project aims to strengthen capacity and institutions, develop provincial adaptation plans, and identify climate adaptation investments to implement these plans.

Other significant engagements include facilitating sustainable public transport services for low carbon development, strengthening the sustainability of the tea industry, exploring utility-scale solar energy projects, and enhancing the Government’s capacity to access and mobilize innovative climate financing tools, such as those related to Article 6 of the Paris Agreement on Carbon Trading and with the issuance of green bonds. These efforts are guided by GGGI’s Sri Lanka Country Planning Framework (2021-2025), which outlines priority interventions jointly identified with the Government through extensive consultations.

With the HCA now in force, GGGI and Sri Lanka are poised to embark on a range of collaborative initiatives, aiming to create a resilient and sustainable future for Sri Lanka.