The Sri Lankan cabinet has approved a 614 million rupee community-based tourism development project in Kuchchaveli, Trincomalee.
The Cabinet of Ministers granted approval for entering a Memorandum of Understanding (MoU) between the Korean Toursim Organization and the Sri Lankan Tourism Development Authority (SLTDA) to implement the tourism project.
According to Cabinet Co-Spokesman and Minister Bandula Gunawardena "SLTDA has proposed the implementation of a community-based tourism development project under the sponsorship of the Korean Toursim Organization focusing on Kuchchaveli tourism development areas owned by the Authority."
South Korea has agreed to provide 2.172 billion Won in funding for the implementation of the entire project.
In the initial phase South Korea will provide a grant of 400 million Won to aid in preperation of the overall tourism development project.
Gunawardenea stated that the grant provided by South Korea is a great support during a period where Sri Lanka is struggling to secure loans.
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