ECONOMYNEXT – The US Agency for International Development (USAID) will give 24.5 million dollars, or 7.2 billion rupees, to strengthen Sri Lanka’s market-driven growth and promote good governance practices.
“This funding is an investment to further support the country’s locally led initiatives to drive sustainable solutions for Sri Lanka’s development challenges,” USAID Assistant Administrator for Bureau of Asia Schiffer said.
The funds, committed through a Development Objective Grant Agreement between USAID and the government of Sri Lanka, will strengthen Sri Lanka’s market-driven growth, foster environmental sustainability and resilience, and promote good governance practices, the US embassy said in a statement.
“Since 1956, the United States has invested in Sri Lanka’s people, empowering them in their entrepreneurial pursuits, strengthening Sri Lanka’s resilience to climate change and macro-economic shocks,” US Ambassador to Sri Lanka Julie Chung said.
The US has provided more than 2 billion dollars (598 billion rupees) in assistance to Sri Lanka, since 1956, to support the country’s agriculture, education, health, environment, water, sanitation, infrastructure, governance, and business development and provide humanitarian assistance to people in need.
The additional funding was announced during a visit to Sri Lanka by the USAID’s Assistant Administrator of the Bureau for Asia Michael Schiffer at an event at the Ministry of Finance.
USAID Sri Lanka and Maldives Mission Director Gabriel Grau also participated in Friday’s ceremony alongside State Minister of Finance Shehan Semasinghe. (Colombo/Aug12/2024)