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.

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