The United States would not gain the ownership of any land in Sri Lanka through the Millennium Challenge Corporation (MCC), US Ambassador to Sri Lanka Alaina B. Teplitz has insisted.
The ambassadress stated this addressing the 3rd annual general meeting of the Sri Lanka-USA Business Council of the Ceylon Chamber of Commerce.
Commenting further, she said the US believes that Sri Lanka needs an all-inclusive economic growth to protect the island’s sovereignty and to promote peace and reconciliation.
“Millennium Challenge Corporation is a US institution that provides developmental funds. The US has donated USD 480 million to Sri Lanka for an all-inclusive economic development and for promotion of development,” Teplitz stated.
She stressed that this sum is not a loan that it would not mortgage the island’s future in any way.
The MCC grant predominantly aims the upgrade of transport infrastructure and implementation of land administration reforms in the government of Sri Lanka, she said.
The media has reported misleading information regarding the grant of MCC, the ambassadress claimed.
Under this agreement, Sri Lanka will hold control of all aspects pertaining to the proposed projects, Teplitz continued.
