ECONOMYNEXT – The United States has approved resuming Foreign Military Financing and Millennium Challenge Corporation aid to Sri Lanka, which had been suspended after last year’s political crisis, Minister of Finance Mangala Samaraweera said.
“Recently, the US government approved the Foreign Military Financing as well as the Millennium Challenge Corporation Compact Programme for Sri Lanka, which was put on hold,” he said at the opening of a US aid facility in Matara.
“We are looking forward to a new team coming to Sri Lanka next month and I’m hoping that the board meeting to be held in March will decide to give us that elusive compact again.”
Assistance offered through USAID, US Peace Corp and the House Democracy Partnership Programme are some the initiatives the two countries are working together on, Samaraweera said at the opening of a new ‘American Corner’ in Matara.
It will offer free training in a partnership with the Matara Chamber of Industry and Commerce to expand economic opportunity for people in the southern region.
Through the Millennium Challenge Corporation (MCC), a U.S. government aid agency, Sri Lanka will get grants for projects in the transport and land sectors.
(COLOMBO, February 28, 2019-SB)