The 26th Session of the Board of Directors of the India-Sri Lanka Foundation was held in Colombo on 28 January, 2011. The Board session was co-chaired by the High Commissioner of India, Mr. Ashok K. Kantha and the High Commissioner of Sri Lanka, Mr. Prasad Kariyawasam, and was attended by members of the Board, Mr. M. Rasgotra, Prof. P.V. Indiresan, Mr. Sunimal Fernando and Mr. Thirukumar Nadesan.

The Board of Directors considered a number of proposals received by the Colombo Secretariat and the New Delhi Secretariat of the India-Sri Lanka Foundation and approved proposals promoting understanding and cooperation between India and Sri Lanka in diverse fields such as education and culture, youth exchange and handicrafts, etc.

The Board of Directors also decided to launch an India-Sri Lanka Foundation Fellowship which will be offered to post-graduate students below the age of 35 years for upto one year of research at reputed and recognized institutions primarily in the area of social sciences and fine arts. The Fellowship will offer a remuneration of INR 50,000 per month and return airfare. Both Colombo and New Delhi Secretariat will shortly invite nominations for the Fellowship.

The India-Sri Lanka Foundation was established by a Memorandum of Understanding between the Government of India and Sri Lanka in 1998 and is financed through revenues from a trust set up with grants made available by the two governments. The objectives of the Foundation are to foster India-Sri Lanka relations through the enhancement of economic, scientific, technical and cultural cooperation between India and Sri Lanka and to promote greater understanding between the people of the two countries.

The programmes undertaken by the India-Sri Lanka Foundation include financing higher studies, research and other education activities at institutes of learning located in India, facilitating visits and exchanges between India and Sri Lanka of scholars, academic, professionals, artists, experts involved in areas of activities covered by the foundation; assisting activities such as seminars, symposia, colloquia, and workshops of subjects of common interest; extending financial support to those non-governmental organizations both in India and Sri Lanka whose work facilities achievement of the objectives of the foundation and contributing towards publication of standard works on India-Sri Lanka relations in specific fields.