Thursday, 17 December 2020 - 10:15
The United States Embassy in Colombo has released a statement following the decision by the Millennium Challenge Corporation (MCC) to withdraw the US$ 480 million compact agreement extended to Sri Lanka.
Releasing a statement, the US Embassy stated that the agreement was discontinued due to the lack of engagement of the partner country.
The full statement issued is as below.
COLOMBO, December 17, 2020: On December 15, the Millennium Challenge Corporation (MCC) board decided to discontinue the proposed Rs. 89 billion MCC development assistance grant to Sri Lanka due to lack of partner country engagement. The Rs. 89 billion approved for Sri Lanka will be made available to other eligible partner countries in need of grant funding to pursue their economic development priorities, reduce poverty, and grow their economies.