US to grant $ 480 m to Sri Lanka; deal to be signed in December

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

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

The grant will be utilised for several development projects, including transport infrastructure development, road development, bus modernisation, 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 regularisation with MCC assistance would be implemented in Kandy shortly. He said that the bus services would have to be regularisedto improve facilities to urban commuters.

Foreign Minister Tilak Marapana thanked the MCC for the grants extended to Sri Lanka and assured Bierman that the Government would facilitate the smooth implementation of the proposed projects.