MCC Board of Directors to decide on $480 million grant to Sri Lanka soon   

The US Millennium Challenge Corporation (MCC) proposed grant of US$480 million to Sri Lanka may not be accessible for much longer as the Washington authorities will take a decision on this matter soon. 
The new government is yet to convey its final decision to MCC authorities in Washington as the Auditor General is currently reviewing the special committee study report on the draft agreement, according to official sources.
The MCC Board of Directors will be meeting soon in Washington to arrive at a decision on Sri Lanka issue among other matters but the government is still to arrive at decision on accepting the grant, the sources said.
The Cabinet of Ministers is expected to reach a consensus as to whether it is feasible to approve it or not under the present foreign reserve position, a senior official closely connected to negotiations divulged.  
The MCC Board held its last meeting for the year 2019 on December 9 and reviewed the performance to select and reselect countries for 2020 assistance.
But its decision is still to be made public although the Sri Lanka was not in the list of countries in the MCC 2020 scorecard released recently, the senior official said, adding that further delay in ratifying the agreement in parliament will result in the termination of the US grant.
However, according to unconfirmed reports, the MCC board had decided to postpone the grant until they had time to evaluate the performance of Sri Lanka’s new government. (Bandula)