The Millennium Challenge Corporation (MCC) of the US Government has approved a grant of USD 480 million to Sri Lanka at its Board meeting held on the 25th of April 2019.
Sri Lanka’s economy received a much-needed boost on Friday (26) with the news that the MCC had approved the highly anticipated grant. The grant is to be used for projects focusing on the development of the transport network of the country.
Following Easter Sunday’s terrorist attack in the country, the economy had suffered a setback with many businesses remaining closed over security fears. However, the approval of the grant will certainly prove to be a much needed confidence booster for the business community in the country.
