Millennium Challenge Corporation of US expresses commitment to work with Sri Lanka
New Chief Executive Officer (CEO) of the Millennium Challenge Corporation (MCC) of the United States (US), Sean Cairncross has written a letter to Sri Lankan Prime Minister Ranil Wickremesinghe expressing commitment to move ahead with the proposed compact to Sri Lanka.
Cairncross has sent the letter to the Sri Lankan Premier soon after his appointment has noted that they (MCC) are eager for the compact to move forward in a timely manner at this crucial stage.
Cairncross has stated in the letter that the MCC are committed to advancing the proposed US$ 480 million compact that the two governments have jointly developed to address major constraints in the Sri Lankan economy related to transport and land administration.
“I am pleased to greet you as the Chief Executive Officer of the Millennium Challenge Corporation,” Cairncross has stated.
“I look forward to your continued leadership to advance our shared goal of promoting growth and reducing poverty for the Sri Lankan people.”
Sean Stuart Cairncross was President Donald Trump’s nominee to the post of MCC CEO. He is a former senior adviser to President Trump.
OSL take:
The letter by CEO of the US MCC to the Sri Lankan Prime Minister is indicative of the strong bilateral ties between Sri Lanka and the US. The US continuous to be a development partner of Sri Lanka and has also extended the US GSP trade concession to the island nation. The MCC compact for Sri Lanka is aimed at several key infrastructure projects targeting the country’s transportation and land administrative sectors. Therefore, foreign businesses/investors could explore business/investment opportunities in these sectors in Sri Lanka. Also, US businesses/investors could confidently explore opportunities in Sri Lanka and look at forming joint ventures with local companies given the close ties between the two countries.
| Article Code : | VBS/AT/10072019/Z_3 |