Govt. clears realty project in Sri Lanka
Taking their relations to newer highs, Prime Minister Narendra Modi recently announced the construction of 10,000 more houses under the Indian Housing Project in Sri Lanka where the beneficiaries of the project would also get ownership of the houses. As part of the innovative Indian Housing Project in Sri Lanka, 4000 houses are being constructed in upcountry areas where beneficiaries are also being given ownership of the land on which the houses are being built, the PM said, adding that to continue the commitment in this area, India is delighted to announce the construction of an additional ten thousand houses in the country under the project. According to the UN Habitat, The Indian Housing Project is a housing reconstruction project funded by India and implemented through a Memorandum of Understanding (MoU) with the Government of Sri Lanka. The project was first announced in June 2010 when India decided to fund the construction of 50,000 houses as part of its post-conflict rehabilitation support to Sri Lanka. Announced with a grant of $250 million, this was one of the largest international grants to needy sections of the society in the region.