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Jan 30, 2017

US Millennium Challenge Corp. to promote economic opportunity

Senior officials from the U.S. Millennium Challenge Corporation (MCC) visited Sri Lanka January 23-26 to discuss joint efforts to fight poverty and promote economic opportunity for all Sri Lankans. In December 2016, MCC selected Sri Lanka as eligible for an MCC compact – a five-year development grant linked to sustained reforms that can spur growth and alleviate poverty. During this visit, MCC representatives met with Sri Lankan government officials as well as representatives of industry and civil society to hear their views and explain the MCC process in detail. 

“Sri Lanka’s selection for an MCC compact is a testament to the progress the country has made in strengthening democratic governance and economic freedom,” said U.S. Ambassador to Sri Lanka Atul Keshap.

MCC projects rely on locally-driven solutions to help increase prosperity. Countries are selected based upon rigorous standards for good governance, anti-corruption and anti-trafficking efforts, and respect for human rights.

MCC officials discussed Sri Lanka’s economic priorities with Prime Minister Ranil Wickremesinghe and other high-level government officials. The delegation also toured Cargills and MAS Holdings factories in Kilinochchi to learn how investments there have created jobs and educational opportunities in some of Sri Lanka’s most economically-challenged areas.

“This is an important moment for Sri Lanka and the MCC. We look forward to working together to unlock future growth and improve the lives of Sri Lankans,” said Fatema Sumar, MCC’s Regional Deputy Vice President for Compact Operations.

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