The President's Media Unit yesterday said an agreement would be signed with the United States will in December USD 480 million grant to Sri Lanka for several development projects.

This, the PMD said, was assured to President Maithripala Sirisena by the Chief Operation Officer of US Government owned Millennium Challenge Cooperation (MCC), Brock Bierman today (Sep 24) when he called on the President at the Lowes Regency Hotel in New York.

Bierman said that he would obtain the approval of the MCC Board of Director and the US Congress shortly, so that the agreement with the Sri Lanka government could be signed by December 2018 in Colombo. He invited President Sirisena to attend the signing ceremony in Colombo.

The grant will be utilized for several development projects, including transport infrastructure development, road development, bus modernization, control of traffic congestion and traffic management.

Minister of Megapolis Development, Champika Ranawaka, who was present at the meeting said that a pilot project on transport regularization with MCC assistance would be implemented in Kandy shortly. He said that the bus services will have to be regularized for improving facilities to urban commuters.

Foreign Minister Tilak Marapana thanked the MCC for the grants extended to Sri Lanka and assured Mr Bierman that the government would facilitate the smooth implementation of the proposed projects.