The four- member experts committee appointed to review the Millennium Challenge Corporation (MCC) grant agreement with the US handed over its preliminary report to Prime Minister Mahinda Rajapaksa today.
The Chairman of the experts committee Prof. Lalithasiri Gunaruwan along with the other members handed over the report to the Prime Minister.
The report has already been handed over to President Gotabaya Rajapaksa.
The Cabinet of Ministers of the former Government had approved the $480 million MCC development assistance grant.
Sri Lanka requested the support, which if approved, will benefit at least 11 million Sri Lankans through the funding of Government- and private sector- identified needs.
However, in December 2019, the newly elected Rajapaksa regime suspended the proposed Millennium Challenge Corporation (MCC) agreement.
It thereafter appointed a four – member experts committee to review the agreement, and submit recommendations on the merits and demerits of the agreement to the Cabinet.
The experts official committee chaired by Prof. Lalithasiri Gunaruwan comprises former Transport Ministry Secretary D.S.Jayaweera, Attorney Nihal Jayawardana and PC Nalaka Jayaweera.
If approved, the programs supported by the 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 United States had denied claims that the US will own any land under the development assistance grant. Sri Lanka will oversee and manage all grant-funded projects throughout the implementation of the five-year grant assistance agreement. (Colombo Gazette)