MCC Agreement to be signed after Presidential Election, US Embassy says
November 6, 2019 10:01 pm
The United States Embassy in Sri Lanka has stated that the signing of the Millennium Challenge Corporation Agreement will only be signed after the Presidential Election.
Issuing a statement on the next steps for the Millennium Challenge Corporation development assistance grant, the Embassy stated the grant is expected to benefit at least 11 million Sri Lankans.
The statement reads that the grant will assist to reduce traffic congestion, improve public transportation in Colombo, upgrade provincial roads, and expand existing government initiatives to improve land administration and strengthen the land rights of Sri Lankans.
The Embassy reiterated that the US will not own or lease any land under this grant deal.
However, the Sri Lankan government will have the opportunity to review in order to approve it, stated the US Embassy.
Full statement by the Embassy:
“The United States welcomes the decision of the Cabinet of Ministers to approve the $480 million Millennium Challenge Corporation (MCC) development assistance grant. Sri Lanka requested this support, which is expected to benefit at least 11 million Sri Lankans through the funding of government- and private sector- identified needs.
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 supporting its efforts to reduce poverty through economic growth.”
