Press briefing of Cabinet Decision taken on 2018-05-09

Grant and Implementation Agreement between the Millennium Challenge Corporation, USA and the Government of Sri Lanka

The Cabinet has granted approval to obtain a US$ Grant of 7.4 million to be awarded to Sri Lanka by the Millennium Challenge Corporation (MCC) which is a foreign grant aid agency of the United States of America for the development of several important sectors towards the advancement of the economic growth of Sri Lanka within the forthcoming period of five years, and also to sign the Agreement pertaining to it. Subsequently, the said corporation has also agreed to award Sri Lanka an additional grant of US$ 2.6 million. Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister, to obtain the additional grant and to sign the Agreement made between the Millennium Challenge Corporation and the Government of Sri Lanka in respect of the implementation of the programmes under same with a revised total grant of US$ 10 million, was approved by the Cabinet.