30 September, 2020

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U.S. Millennium Challenge Corporation Reselects Sri Lanka To Continue Grant Programme

The Board of Directors of the United States Millennium Challenge Corporation (MCC) reselected Sri Lanka for its grant programme at its meeting on December 19.

“This will enable MCC to continue developing its compact programme with the government of Sri Lanka for which Sri Lanka was selected a year ago,” the Prime Minister’s office said in a statement.

Finance Minister Mangala Samaraweera in discussion with MCC Regional Deputy Vice President for Europe, Asia, Pacific and Latin America, Fatema. Z. Sumar | October 2017

The Prime Minister’s office said: “MCC compact programmes are large, five-year grants for selected countries that meet MCC’s eligibility criteria of good governance, economic freedom and investment in their citizens. The selections are based on performance indicators compiled by MCC in an annual scorecard for countries under consideration.

“As required by MCC procedure, MCC reselects countries already in compact development as part of its annual selection process. Sri Lanka’s reselection bears testament to the country’s continued progress on policy performance and reforms, including on democratic rights and control of corruption, and the strength of the government’s partnership with MCC since 2015. MCC’s recognition of Sri Lanka’s progress provides further impetus to the government’s political and economic reforms aimed at achieving sustainable peace and economic prosperity.

“Since being selected eligible for a compact programme in December 2016, the government of Sri Lanka and MCC have been working together to develop projects with the aim of fighting poverty and promoting economic opportunity for the Sri Lankan people. In July, MCC announced $7.4 million in funding to support the development of the compact, including identifying and analyzing specific projects for potential investment. This amount is in addition to the total MCC compact funding amount, which will be determined later. Based on an analysis of the constraints to economic growth, Sri Lanka and MCC are currently conducting due diligence on potential projects in the transport and land sectors.

“In December 2015, Sri Lanka was selected for an MCC Threshold Programme which are smaller grants awarded to countries that come close to MCC’s eligibility criteria, but are firmly committed to improving policy and performance. With Sri Lanka’s selection for a Compact Programme only a year later, MCC and Sri Lanka began work to transition into this much larger programme.

“Created by the U.S. Congress in 2004 with bipartisan support, MCC is a unique U.S. agency that operates on the principle of delivering assistance on the basis of a long-term consultative partnership with recipient countries. Country ownership and country-led solutions for reducing poverty through sustainable economic growth are the underlying principles on which MCC grants are provided. Grants are designed to complement other U.S. and international development programmes, and to create an enabling environment for private sector investment. MCC holds partner countries accountable through rigorous oversight, monitoring and evaluation.

“MCC’s Board of Directors is chaired by the Secretary of State. Its members include the Secretary of the Treasury, the U.S. Trade Representative, the Administrator of USAID, the Chief Executive Officer of MCC and four private sector representatives. The Board members are appointed by the President of the United States with the advice and consent of the U.S. Senate.”

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Latest comments

  • 1
    1

    US needs Sri Lanka..
    We need help too .
    Good timing as well near to local election

    • 2
      0

      Selection criteria: “Good governance, economic freedom, investing in citizens ……..”

      One big hahaha ….. Good Governance, that WAS how they were elected under Ven Sobhitha’s vision, but soon after election, exactly 3-months it was, the PM masterminded the biggest bank robbery with the help of his finance minister, heads of pension fund holders, and guess who else, the Governor of the Central Bank and his crooked businessman son in law. There goes good governance.
      Economic freedom ….. yes a free mandate given to business crooks; there is another one coming on the agenda soon. How to strip the country off its national assets by buying a useless decrepit obsolete warship nearly 10-years after the war masterminded by another business crook and a president … hahahaha.
      Investing in its citizens ….. the only citizen got invested in was/is the former finance minister and his family. Certainly under the old regime weerawansas, SJVs, Rajapakshas were considered to be the only citizens worth investing in. The rest of the citizens were only good for dustbins and to carry the burden of tax to make up for all the contricks and frauds committed by their leaders …… another big hahahahah. What blind beggars at the US MCC were doing their evaluation and assessment? God knows!

      • 0
        0

        Aid transparency and Accountability is needed. Right wing MCC and citizens groups should ask how the funds are being spent in Line with UN and OECD rules on Aid Effectiveness. Right now MCC provides FAKE development advice and economic diagnositics with Economic Hit men from Washington to Ranil Wickramasinghe’s office.
        MCC claims to work for US deep State security interests and Global 1 percent of wealthy and NOT for poverty reduction.
        Rather than saying corruption is reason for lack of FDI and growth in Lanka, MCC want to take over Lands and Transport sectors for security reasons of the deep state and to collect BIG DATA on Lanak by taking over Survey Dept. Trimble and Co. and selling Lankan lands and Transport including Highways and Sri Lankan Airlines to Shadowy off shore hedge funds. Sri Lankan was to be sold to Texas Pacific Group until the Aussie Govt. took TPG to court for asset stripping!

  • 1
    0

    You mean after voting against US President’s declaration at the UN? Ambassador Nikki Heley said that this vote is an indication to them whom they should help.

    • 1
      0

      Dear Sincere,

      Check that out about our voting on Jerusalem. Mano Ratwatte had suggested that we’d do well to abstain because the U.S. is important for us. Most Sri Lankans would have wanted us to side with the Palestenians. And that is what we have done. Good.

      I thought that “Sincere” has made a mistake; I had seen a full list about ten hours ago. It was I who had been mistaken. I couldn’t find the list now. I did find an article by Daniel Barnnboim (yes, the pianist – a Jew, of course) calling on the whole world to now recognise a separate Palestinian State.

      As for West Jerusalem, he says that it now has to be the capital of Israel, and East Jerusalem to be the capital of Palestine.

      As already indicated, I seem to be blundering in this matter; I don’t really understand the ramifications. But of the importance of the issue I have no doubt.

  • 2
    1

    Don’t be too sure of the Grant!

    “The Mossad
    @TheMossadIL
    We’re making a list
    We’re checking it twice
    Gonna find out whose funding to slice@nikkihaley’s coming to town”

    LOL

    Four of the five permanent members voted against USA. If Trump was in the hall and not Nikki Haley it just could have been a clean sweep. That idiot would have scored an own goal.

    128 to 9 and Trump thinks he won.

  • 0
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    Do you think they blind beggars and Only god knew ? You sense what you are talking.

  • 0
    0

    All are thrives except JVP.
    Please vote for JVP.
    How on earth people trust UNP and SLFP.
    70 years they looted public money and yet what we vote for them.

  • 0
    0

    Does the US Millennium Challenge Corporation do a follow up study on the ‘efficiency’ of grant usage? Efficiency here means a measure of how much of the grant the recipient (the people at the end of the chain) actually get?
    Fund-raising is big business. Some fund-raisers charge a lot towards ‘administrative’ costs and the payout to the ‘charity’ may be under 5%. Needless to say that the ‘charity’ also needs administrative costs!

    • 0
      0

      Do you know what MCC is and who funds it ?

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