Press briefing of Cabinet Decision taken on 2018-07-10

Grant and Implementation Agreement between the Millennium Challenge Corporation and the Government of Sri Lanka - (Agenda Item No.09)

- Investment activities of the funds provided under the Millennium Challenge Corporation implemented by the United State of America for alleviating poverty through economic growth, is carried out by the Policy Development Office of the Prime Minister's Office. Under the coordination of the Policy Development Office, it is scheduled to carry out projects for the development of land administration, transport, agriculture logistic, development of power and energy sector etc., and it is also scheduled to establish a high-tech University and the construction of an elevated highway from Peliyagoda to Malabe. Accordingly, a Note to the cabinet presented by Hon. Ranil Wickremasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, to the effect that the total grant of US$ 450-500 million approximately, is expected to be obtained for the improvement of the transport sector project and the land administration process inclusive also of the present position in regard to the principle investments of the Millennium Challenge Corporation of United State of America, was approved by the Cabinet.