Cabinet approval has been received to obtain the 480-million-dollar grant awarded to Sri Lanka by the US government, through the Millennium Challenge Corporation.
Minister of Finance Mangala Samaraweera tabled the proposal in this regard.
Under this grant, the projects which are to be implemented include, traffic management in the Colombo area, the designing and development the road network island-wide, and the upgrading of the administration of lands across the country.
These projects will be designed, by the relevant line ministries and departments.
Sri Lanka is the 37th country to obtain this grant from the US.
The Minister of Finance will sign the agreement in this regard soon, and at the beginning of next year, the planned projects will be implemented.