A delegation from the U.S. Government’s Millennium Challenge Corporation (MCC), led by Chief Operating Officer Jonathan Nash, visited Sri Lanka this week to continue progress on the proposed MCC compact – a large-scale five-year grant program. MCC is developing the compact in partnership with the Government of Sri Lanka to promote inclusive economic growth that will benefit Sri Lankans.
During the visit, COO Nash met with senior government officials, including Prime Minister Ranil Wickremesinghe, Minister of Finance Mangala Samaraweera, State Minister of Finance Eran Wickramaratne, and Foreign Secretary Prasad Kariyawasam.
“We are pleased that progress continues on the proposed MCC compact,” said MCC COO Nash. “Developed in partnership with the Government of Sri Lanka, the proposed MCC Sri Lanka Compact is designed to spur economic growth and investment by the private sector to reduce poverty and increase economic opportunities for the people of Sri Lanka,”
Based on an analysis of Sri Lanka’s economy and the constraints that are holding back private investment and growth, MCC expects to invest in projects proposed by the Government of Sri Lanka in the transport and land sectors.
The proposed compact would improve road networks and the bus system in the Colombo Metropolitan Region, and improve road connectivity between the central region and ports and markets in the Western Province. The compact would upgrade more than 300 kilometers of urban and interprovincial roads. In addition, the compact would improve land administration, and strengthen land rights and tenure security.
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