Sri Lanka has been asked to submit its proposal promoting economic growth to draw down funds from the Millennium Challenge Corp.s (MCC) billion-dollar kitty.
The MCC is a U.S. Government corporation created in January, to work with developing countries by providing grants through the Millennium Challenge Account (MCA). rn
rnSri Lanka is one of the 16 countries vying for attention and a five-member MCC fact-finding mission is in town to gauge the islands suitability to apply for MCA aid next year.rn
rnldblquote There is no time frame set to submit a proposal but we advice the government of Sri Lanka to submit a proposal as soon as possible,
dblquote explains David Nummy from the MCC delegation.rn
rnThe MCC stressed that it will ldblquote not give any guidance to governments on the proposal.
rnBut to receive MCA assistance, a government proposal ldblquote must be for something that promotes economic growth.
rnThis, as the MCC explained, is because the US believes the only