{"id":171612,"date":"2016-12-15T14:36:25","date_gmt":"2016-12-15T09:06:25","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=171612"},"modified":"2016-12-15T14:39:25","modified_gmt":"2016-12-15T09:09:25","slug":"u-s-millennium-challenge-corporation-selects-sri-lanka-for-5-year-grant-compact","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/u-s-millennium-challenge-corporation-selects-sri-lanka-for-5-year-grant-compact\/","title":{"rendered":"U.S. Millennium Challenge Corporation Selects Sri Lanka For 5-Year Grant Compact"},"content":{"rendered":"

At its quarterly meeting on December 13, 2016, the Millennium Challenge Corporation (MCC) Board of Directors selected Sri Lanka, Burkina Faso and Tunisia for new MCC compacts \u2013 five-year grants \u2013 to encourage economic growth and reduce poverty, the US Embassy Colombo said in a statement.<\/p>\n

\"Ambassador<\/a>

Ambassador Atul Keshap<\/p><\/div>\n

\u201cMCC\u2019s considerable support is a major boost to our six decades of development partnership with the people of Sri Lanka,\u201d said U.S. Ambassador to Sri Lanka Atul Keshap<\/span><\/a>.<\/p>\n

“For a country to be selected as eligible for MCC assistance, it must demonstrate a commitment to just and democratic governance, investments in its people, and economic freedom, as measured by third-party policy indicators on MCC\u2019s annual scorecard.” the US Embassy Colombo said<\/p>\n

\u201cBy partnering with developing countries that meet rigorous standards for good governance, from fighting corruption to respecting the rights of women and the rule of law, we are maximizing our ability to fight poverty and transform people\u2019s lives,\u201d MCC Chief Executive Officer Dana J. Hyde said.<\/p>\n

According to the\u00a0US Embassy Colombo said: “Sri Lanka, which was selected in December 2015 for a threshold program, will now transition into the compact program after showing continued improvement on its scorecard, including demonstrated progress on democratic rights. Tunisia is also new compact partner for MCC, while Burkina Faso successfully completed its first MCC compact in July 2014 and has demonstrated clear policy improvement on its scorecard since the election of its new government in 2015.<\/p>\n

“In both Sri Lanka and Burkina Faso, the Board recommended that MCC explore investments that address obstacles to economic growth \u2013 both domestic and regional \u2013 while recognizing the need for statutory authority to optimize regional impact.”\"mcc-sri-lanka-2017-scorecard-final\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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