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Millennium Challenge Corporation evaluating Sri Lanka for Threshold Program Funding

The Millennium Challenge Corporation (MCC) is currently evaluating Sri Lanka for a threshold program that can potentially provide millions of dollars in assistance for economic reforms announced US Ambassador to Sri Lanka, Atul Keshap at the 177th AGM of the Ceylon Chamber of Commerce.

“The US relations with Sri Lanka are at an all time high and we will remain steadfast in our support of efforts to rebuild the economy and advance good governance. This year the US government’s assistance is approximately US$ 40 Million to Sri Lanka and we have requested similar amounts from the Congress for the coming years,” said Ambassador Keshap. He added that the recent International Monetary Fund (IMF) decision to loan US$ 1.5 billion to the Sri Lankan government will be a meaningful opportunity to undertake needed fiscal and economic reforms. 

Several decisions about investments in Sri Lanka will be taken at the US-Sri Lanka Commerce and Investment Planning meeting to be held in Washington in April next year.

The MCC is an independent U.S. Foriegn aid agency that builds partnerships and provides funds to countries committed to good governance, economic freedom, and investments in their citizens. Threshold programs are developed with smaller countries that "come close to 

passing these criteria and are firmly committed to improving their policy performance."

See more info here and here.