The European Union (EU) on October 9 provided EUR 40 million to Sri Lanka to co-finance the Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement (STRIDE) project, security and development, reports Colombo Page. Dr. R.H.S. Samaratunga, Secretary to the Treasury at the Ministry of Finance and Tung-Lai Margue, Ambassador of the Delegation of the EU to Sri Lanka and the Maldives, signed the financing agreement. "Good governance and the participation of communities are important to ensure that a country's growth reaches everyone. Local government structures must be responsive to people's needs. These are key elements in ensuring effective governance on the ground which help address causes of conflict. With STRIDE, the EU contributes to long-term peace, security, and development in Sri Lanka," the EU Ambassador said.