President Maithripala Sirisena says the government will set up an International Buddhist University during the celebrations of International Vesak day in May this year.
A delegation of the Buddhist Charity Organization called on the President to discuss future philanthropic activities in Sri Lanka.
The leader of the delegation Master Jun Hong Lu, President of Australia Oriental Radio and Television said his organisation would donate towards the University.
The Head of State said the endeavour of the government is to improve the moral values of the younger generation through the teachings of Lord Buddha. The President thanked the Organization for generous donations.
The delegation is scheduled to visit Polonnaruwa and the Temple of the Tooth Relic in Kandy during their stay in the island.