COLOMBO, May 10 (Xinhua) -- The European Union (EU) has launched a 810-million Rupees (5.1 million U.S. dollars) project to support the modernization of Sri Lanka's agriculture sector, a statement from the EU Embassy in Colombo said on Thursday.

According to the statement, the project titled "support to the modernisation of the agriculture sector in Sri Lanka" will support the development of overarching Sri Lankan agriculture policy and it will be operational for three years.

The statement said it would promote the diversification of high value agricultural production with the focus on improving export earnings.

EU Ambassador to Sri Lanka and the Maldives Tung-Lai Margue said the program had been designed with the needs of the small farmers in mind.

"Given the large number of institutions involved in the agricultural sector in Sri Lanka, strengthening coordination and developing a joint policy are key to a successful transformation of the sector. We are pleased to partner with the Sri Lankan government, civil society and private sector in this regard," he said.