The Cabinet of Ministers approved the implementation of US$ 480 million MCC grant, yesterday.

This consists of grant funds for traffic management in Colombo, road construction island-wide, and land administration improvements. The proposal pertaining to the grant was presented to the Cabinet by Finance Minister Mangala Samaraweera.

Over 30 countries are the recipient of such grant funds from the people of the United States of America. While the agreement can be signed early as confirmed today at Cabinet, the implementation will begin in early 2020.

The signing of the agreement had to be postponed earlier, as President Sirisena vehemently objected to the deal.