US MCC to improve Colombo road network and bus system

20 September 2018 01:39 pm - 10     - {{hitsCtrl.values.hits}}

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The proposed compact Millennium Challenge Corporation (MCC), would improve road networks and the bus system in the Colombo Metropolitan Region, and improve road connectivity between the central region and ports and markets in the Western Province.

The compact would upgrade more than 300 kilometers of urban and interprovincial roads. In addition, the compact would improve land administration, and strengthen land rights and tenure security.

A delegation from the U.S. Government’s Millennium Challenge Corporation (MCC), led by Chief Operating Officer Jonathan Nash, visited Sri Lanka this week to continue progress on the proposed MCC compact – a large-scale five-year grant program.  MCC is developing the compact in partnership with the Government of Sri Lanka to promote inclusive economic growth that will benefit Sri Lankans.

During the visit, COO Nash met with senior government officials, including Prime Minister Ranil Wickremesinghe, Minister of Finance Mangala Samaraweera, State Minister of Finance Eran Wickramaratne, and Foreign Secretary Prasad Kariyawasam.

The proposed MCC Sri Lanka Compact is in the final stage of development. The compact is expected to be negotiated with the Government of Sri Lanka in the coming weeks. MCC will fund the compact entirely through grants which do not need to be repaid rather than loans.

“The proposed MCC compact reflects our commitment to development projects that make economic sense and drive growth in a way that increases local jobs,” said Chargé d’affaires Robert Hilton.  “With this compact, we have an opportunity to promote transparent decisions about Sri Lanka’s long-term interests in terms of costs, benefits, and sustainable development.”

“We are pleased that progress continues on the proposed MCC compact,” said MCC COO Nash. “Developed in partnership with the Government of Sri Lanka, the proposed MCC Sri Lanka Compact is designed to spur economic growth and investment by the private sector to reduce poverty and increase economic opportunities for the people of Sri Lanka,”

Based on an analysis of Sri Lanka’s economy and the constraints that are holding back private investment and growth, MCC expects to invest in projects proposed by the Government of Sri Lanka in the transport and land sectors.

The proposed compact would improve road networks and the bus system in the Colombo Metropolitan Region, and improve road connectivity between the central region and ports and markets in the Western Province. The compact would upgrade more than 300 kilometers of urban and interprovincial roads. In addition, the compact would improve land administration, and strengthen land rights and tenure security.

MCC is an innovative foreign assistance agency of the United States Government established in 2004 that has signed compacts with 29 countries around the world. In December 2016, MCC’s Board of Directors selected Sri Lanka to develop a compact.

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  Comments - 10

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  • johan Thursday, 20 September 2018 02:23 PM

    City of Colombo, the roads are narrow and much traffic which has more pot holes, to say is it the Capital of Sri Lanka. Specially the road that is connecting Airport Road through Aluthmawatha from the Colombo 1, is in a very pathetic condition.Atleast an Overhead highway along the Ports Authority would solve the problem.

    Commuter Thursday, 20 September 2018 02:40 PM

    Please extend Marine Drive to Moratuwa and improve road conditions in Dehiwala.

    Singhela Thursday, 20 September 2018 02:55 PM

    GRANT???? There must be strings attached. The West does not invest, without a considerable advantage for themselves.

    dinesh Thursday, 20 September 2018 04:42 PM

    you live up to your name mate

    Lord Wolfstein Thursday, 20 September 2018 04:58 PM

    As far as Sri Lanka benefits, why not benefit the US as well? This is far better than when China sucks Sri Lanka to the death.

    Stan Thursday, 20 September 2018 06:31 PM

    I have no idea why we're so pessimistic about the west. Maybe they're all evil conspirators but whoever's on their side wins so why not be on their side?

    Labby Thursday, 20 September 2018 04:12 PM

    Did they obtain approval from the JO and the JVP for this? Otherwise we will see those jokers shouting that we have sold our road network to the US.

    Mahila Thursday, 20 September 2018 07:39 PM

    True the Bitumen in the road topcoat would be paid for by the US MCC and therefore owned by them and as such sold to the US MCC without interest charges at 17%

    Kuthbuddin Thursday, 20 September 2018 08:21 PM

    Colombo 14, grand pass road is totally dilapidated the whole street new gutters for rain water flow plus the narrow street has to get expanded for vehical traffic .as far as I know it is now 40 years they have never renovated the road's total pathetic as to why this area is neglected for such a long time

    Singhela Saturday, 22 September 2018 01:43 PM

    Dear Dinesh, You really are an ill informed mut.


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