US raises development investment in Sri Lanka by $ 19.2 m via USAID

Friday, 22 September 2023 00:00 - - {{hitsCtrl.values.hits}}

The US has decided to extend additional funds worth over $ 19 million (over Rs. 6 billion) to boost the development of Sri Lanka.

The $ 19.23 million (Rs. 6.2 billion) is obligated through the Development Objective Grant Agreement between the United States Agency for International Development (USAID) and the Government of Sri Lanka.

The commitment was marked via a signing ceremony with Mission Director Grau and Treasury Secretary K.M. Mahinda Siriwardana at the Finance Ministry on Wednesday.

This development assistance will support economic growth and democratic governance activities and demonstrates the ongoing US commitment to its partnership with Sri Lanka and to building lasting people-to-people ties.

“This investment demonstrates the United States’ ongoing commitment to our partnership with Sri Lanka and our steadfast support to the people of this stunning, opportunity-filled country, as USAID Administrator Samantha Power and President Wickremesinghe discussed in New York,” USAID Sri Lanka and Maldives Mission Director Grau said.

“With these funds, we’ll continue to work with the Government of Sri Lanka to improve economic growth and democratic governance and advocate for vulnerable populations,” he added.

“The people of Sri Lanka appreciate the continued close collaboration and the very cordial partnership and support extended by the Government of the US to Sri Lanka,” Treasury Secretary Siriwardana said.

“This grant will reinforce the Government’s efforts to strengthen a democratic, prosperous, and resilient Sri Lanka,” he added.

The US has provided over $ 2 billion (nearly Rs. 720 billion) in assistance to Sri Lanka since 1956.