Exploring new partnership

Chief Executive Officer, US Millennium Challenge Corporation (MCC), Dana J. Hyde with Sri Lanka’s Ambassador Prasad Kariyawasam

In a meeting with the Chief Executive Officer of the US 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.

Created by the US Congress in January 2004, with strong bipartisan support, MCC is an innovative foreign aid agency that operates on the principle of delivering US grant assistance to selected 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 a variety of sectors.

Ambassador Kariyawasam also briefed 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.