In a meeting with the Chief Executive Officer of the U.S. Millennium Challenge Corporation (MCC) Dana J. Hyde, Sri Lanka’s Ambassador Prasad Kariyawasam emphasized the desire of the Government to establish a partnership with the United States under the Millennium Challenge Corporation, a statement by the Sri Lanka Embassy in Washington said.

 

Created by the U.S. Congress in January 2004, with strong bipartisan support, MCC is an innovative foreign aid agency that operates on the principle of delivering U.S. grant assistance to select countries on the basis of a long-term consultative partnership, with the objective of reducing global poverty through sustainable economic growth.

 

MCC grants to partner countries can reach the tune of US$ 500 million over a five-year partnership. To date, MCC has approved over $10 billion in assistance worldwide that support country-determined projects in such sectors as agriculture and irrigation, infrastructure, water supply and sanitation, access to health, finance and enterprise development, anti-corruption initiatives, land rights and access to education. MCC selects eligible countries based on their performance in the areas of good governance, economic freedom and investment in their citizens.

 

Ambassador Kariyawasam briefed Ms. Hyde on the reform process in Sri Lanka and the significant progress that has been achieved by the government since its election to office in January. Sri Lanka now seeks to expand cooperation with the international community including through new partnerships with donor agencies, such as MCC to provide a tangible peace dividend to its people. Acknowledging the progressive developments taking place in Sri Lanka, Ms. Hyde said that MCC was encouraged by the reform process and would continue to closely follow developments in the coming months. She invited the Ambassador to continue interaction with MCC.