Sri Lanka to obtain USD 480 million development grant

Sri Lanka to obtain USD 480 million development grant

Written by Staff Writer

25 Sep, 2018 | 1:45 pm

COLOMBO (News 1st) – Chief Operation Officer of the US Government owned Millenium challenge cooperation, Brock Bierman assured President Sirisena that the United States will provide USD 480 million to Sri Lanka for several development projects. The statement was made when Bierman had called on the President on the sidelines of the UN General Assembly.

Bierman added that the approval from the Millenium Change Corporation Board of Directors and the US Congress would be obtained shortly so that the agreement with the Sri Lankan government could be signed by December this year in Colombo.

He also invited President Sirisena to grace the signing ceremony in Colombo.

The grant will be utilized for several development projects including transport infrastructure development, road development, bus modernisation, control of traffic congestion and traffic management.




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