Sri Lanka to take steps to expedite multimillion dollar MCC grant

Tuesday, 13 June 2017 00:01 - - {{hitsCtrl.values.hits}}

Sri Lanka will address the issues that need to be resolved to move forward the multimillion dollar Millennium Challenge Corporation compact grant, Deputy Minister of National Policies and Economic Affairs Dr. Harsha de Silva said.

The Deputy Minister, who is visiting the US along with the Sri Lankan Ambassador to the US Prasad Kariyawasam, met with the top officials of the Millennium Challenge Corporation (MCC) to discuss the multimillion dollar MCC compact to Sri Lanka.

The Minister met with MCC Regional Deputy Vice President for Europe, Asia, the Pacific and Latin America Fatema Sumar and Managing Director for Europe, Asia, Pacific and Latin America programs Caroline Nguyen of MCC along with Sri Lanka coordinator Nilan Fernando in Washington, DC.

“We discussed at length the issues we need to address to process the project at the earliest,” the Deputy Minister said through a Facebook post following the meeting.

“I will take steps to expedite it,” he added.

“This is a grant to the Sri Lankan people by the American people. The biggest grant ever by any country!”

In December 2016, MCC selected Sri Lanka as eligible for an MCC compact - a five-year development grant linked to sustained reforms that can spur growth and alleviate poverty.

MCC projects rely on locally-driven solutions to help increase prosperity. Countries are selected based on rigorous standards for good governance, anti-corruption and anti-trafficking efforts, and respect for human rights.