Government seeks US grant assistance through MCC

ImageProxyThe Government has sought grant assistance from the United States under the Millennium Challenge Corporation (MCC), the Sri Lankan Embassy in Washington said.

At a meeting with the Chief Executive Officer of the U.S. Millennium Challenge Corporation (MCC) Dana J. Hyde, Sri Lanka’s Ambassador Prasad Kariyawasam has emphasized the desire of the Government to establish a partnership with the United States under the Millennium Challenge Corporation.

Created by the U.S. Congress in January 2004, with strong bipartisan support, MCC is an innovative foreign aid agency that operates on the principle of delivering U.S. grant assistance to select countries on the basis of a long-term consultative partnership, with the objective of reducing global poverty through sustainable economic growth.

MCC grants to partner countries can reach the tune of US$ 500 million over a five-year partnership. To date, MCC has approved over $10 billion in assistance worldwide that support country-determined projects in such sectors as agriculture and irrigation, infrastructure, water supply and sanitation, access to health, finance and enterprise development, anti-corruption initiatives, land rights and access to education. MCC selects eligible countries based on their performance in the areas of good governance, economic freedom and investment in their citizens.

Ambassador Kariyawasam briefed Ms. Hyde on the reform process in Sri Lanka and the significant progress that has been achieved by the government since its election to office in January. Sri Lanka now seeks to expand cooperation with the international community including through new partnerships with donor agencies, such as MCC to provide a tangible peace dividend to its people.

Acknowledging the progressive developments taking place in Sri Lanka, Ms. Hyde said that MCC was encouraged by the reform process and would continue to closely follow developments in the coming months. She invited the Ambassador to continue interaction with MCC. (Colombo Gazette)

2 COMMENTS

  1. Current Ranil-Sirisena joint conspiracy should be removed by defeating UNP in the coming election. Otherwise Sri Lanka will end up becoming a slave-state of USA. This US grant approach approach is a good example of what is going to happen. USA have more than 30 trillion debts to China and other countries, and what sort of money Sri Lanka can borrow from USA?

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