US$ 480 million grant to Sri Lanka

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United States will provide a US$ 480 million grant to Sri Lanka for several development projects. This was assured to President Maithripala Sirisena by the Chief Operation Officer of US Government owned Millennium Challenge Cooperation (MCC), Brock Bierman yesterday(24) when he called on the President at the Lowes Regency Hotel in New York.

Mr Bierman said that he would obtain the approval of the MCC Board of Director and the US Congress shortly, so that the agreement with Sri Lanka government could be signed by December 2018 in Colombo. He invited President Sirisena to grace the signing ceremony in Colombo.

The grant will be utilized for several development projects including transport infrastructure development, road development, bus modernization, control of traffic congestion and traffic management.

Minister of Megapolis Development, Champika Ranawaka, who was present at the meeting said that a pilot project on transport regularization with MCC assistance would be implemented in Kandy shortly.

 

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