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| Sunday, 30 May 2004 |
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Millennium Challenge team to visit Colombo A delegation from the Millennium Challenge Corporation (MCC), USA will visit Sri Lanka from June 1-5. The MCC is a US government corporation designed to work with developing countries throughout the world. As US Secretary of Treasury John W. Snow has noted: "The MCC will focus specifically on promoting sustained economic growth through investments in areas such as agriculture, education, private sector development, and capacity building." On May 6, the Board of Directors of the Corporation named Sri Lanka and 15 other countries as eligible to apply for Millennium Challenge Account (MCA) assistance in 2004. Selection for eligibility is not a guarantee of MCA assistance for the process to go forward, the Government of Sri Lanka must negotiate a 'compact' with the US Government. While in Colombo, the MCC delegates will begin discussions regarding Sri Lanka's eligibility for MCA assistance. They will meet with Minister of Foreign Affairs Lakshman Kadirgamar, Minister of Finance Sarath Amunugama, and Central Bank Governor A.S. Jayawardena, and other government officials. They will also discuss MCA issues with business leaders, opposition representatives, members of the donor community and members of Sri Lankan civil society. MCC's operating principle is that aid is most effective when it reinforces sound political, economic, and social policies that promote economic growth. As US President George W. Bush said: "The powerful combination of trade and open markets and good government is history's proven method to defeat poverty on a large scale, to vastly improve health and education, to build a modern infrastructure while safeguarding the environment, and to spread the habits of liberty and enterprise. "The Millennium Challenge Account encourages all nations to embrace political and economic reform." |
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