The Sri Lanka Resident Country Director at Millennium Challenge Corporation, Jenner Edelman says, the “lack of information” and “misinformation” about the Millennium Challenge Corporation among people, is a major concern.
Speaking at a discussion organised by the Sri Lanka USA Business Council of the Ceylon Chamber of Commerce at the Hilton Colombo Residencies, Edelman explained, the Millennium Challenge Corporation is a US government development agency that is “independent”; its singular mission around the world is poverty reduction through economic growth, and countries are selected on a competitive process, based on 20 different 3rd party indicators.
In 2017, the government submitted a proposal specifying activity to grow the economy, and over 2018, a Sri Lankan delegation travelled to Washington to lead the negotiations.
The Ceylon Chamber of Commerce worked with Millennium Challenge Corporation, in designing the grant.
Edelman added, they had planned to sign the grant in December 2018, but the political crisis put the plans on hold; however, once the crisis was over the Board of Directors reconvened and approved the full 480 million dollars in April.