MCC discontinues $ 480 million compact with Sri Lanka

The Millennium Challenge Corporation (MCC) Board of Directors, at its quarterly meeting held on December 15 in Washington, DC, has decided to discontinue the proposed US$ 480 million compact with Sri Lanka

Dec 17, 2020
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The Millennium Challenge Corporation (MCC) Board of Directors, at its quarterly meeting held on December 15 in Washington, DC, has decided to discontinue the proposed US$ 480 million compact with Sri Lanka.

The MCC in April 2019 approved Sri Lanka compact awarding a five-year grant of $ 480 million but the Sri Lankan government did not sign it and the program didn’t move forward.

The US$ 480 million grant under the MCC Agreement was proposed to utilize to upgrade the transportation infrastructure and improve land management, covering the entire country.

http://www.colombopage.com/archive_20B/Dec17_1608144353CH.php

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