Sri Lankan government and US MCC looking at improving transport infrastructure and land administration - Opportunity Sri Lanka
Sri Lankan government and US MCC looking at improving transport infrastructure and land administration

Sri Lankan government and US MCC looking at improving transport infrastructure and land administration

The government of Sri Lanka is reportedly focusing on improving transport infrastructure and land administration in the country in line with the government’s Vision 2025.
The government believes that investing in these sectors will help create the foundation for economic growth with equity.
However, the US Millennium Challenge Corporation (MCC) after reviewing the Sri Lankan government’s proposal has reportedly agreed to with further due diligence to develop a pact with Sri Lanka by the end of this year.
According to reports, the Sri Lankan government has recruited a compact development team in the Policy Development Office at the Prime Minister’s Office and it has completed an analysis of potential activities in the transport and land sectors that could promote economic growth, while consulting a broad array of stakeholders in government, the private sector and civil society.
Therefore, potential project ideas have been evaluated against several factors, including likely economic impact, ability to implement within five years, sustainability, and poverty profile of expected beneficiaries.
The Sri Lankan government in November 2017 has submitted a funding proposal to MCC and an in-depth due diligence has been launched to determine if the activities would meet MCC’s investment criteria.
The local media has reported that the Sri Lankan government and MCC are considering a two-prong strategy in the transport sector.
The first component is expected to reduce traffic congestion in major urban areas and improve transport connectivity between provinces, particularly between lagging regions and markets and ports in the Western Province. Activities under consideration include initiatives to modernise bus services and improve traffic management along heavily congested corridors in Colombo Metropolitan Area.
The second component is expected to rehabilitate national roads in lagging regions and catalyse private investment in agricultural logistics facilities.
In the land sector, Sri Lankan government and MCC are considering activities to improve land administration.
However, the Sri Lankan government is hopeful of completing the compact development process and signing a compact agreement with MCC by the end of the year.

OSL take:

The Sri Lankan government’s move to improve transport infrastructure and land administration with assistance from the US MCC would open up opportunities in the two above mentioned sectors. This would open up several project opportunities in the country as well as create an opening for the formation of joint ventures between local and foreign companies to bid for projects under the programme to improve transport infrastructure and land administration.

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Article Code : VBS/AT/20180220/Z_4

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