Local News from Sri Lanka: The United States welcomes the Cabinet of Ministers ‘ decision to approve the $480 million grant for development assistance from the Millennium Challenge Corporation (MCC). Sri Lanka called for this support, which is expected to benefit at least 11 million Sri Lankans by financing the needs identified by the government and the private sector.
The programs supported by this grant will reduce traffic congestion, improve public transportation in Colombo, upgrade provincial roads, and expand existing Government of Sri Lanka initiatives to improve land administration and strengthen the land rights of Sri Lankans. The Government of Sri Lanka has posted the draft of the grant agreement on the Ministry of Finance website, where it is available for the people of Sri Lanka to review. The United States will not own or lease any land under this development assistance grant. Sri Lanka will oversee and manage all grant-funded projects throughout the implementation of the five-year grant assistance agreement.
With presidential elections approaching, the United States anticipates working toward grant signing and parliamentary approval with the Government of Sri Lanka after November 16, 2019. Per our policy – applied in all 29 partner countries – the Sri Lankan Parliament will have the opportunity to review and approve the grant. The United States looks forward to continuing our partnership with Sri Lanka and to support its efforts to reduce poverty through economic growth.