$10 m from Millennium Challenge Corporation for development

The Cabinet of Ministers on Wednesday approved the agreement to obtain a grant of $10 million for the development of the country from the Millennium Challenge Corporation, USA.

Accordingly, Cabinet approval was given to a proposal submitted by Prime Minister Ranil Wickremesinghe to obtain a grant of $ 7.4 million, as the first tranche, for development activities of the nation.

The Millennium Challenge Corporation will also be providing an additional $2.6 million in grant money.

The Government is to sign the agreement in the coming weeks.