The US-based Millenium Challenge Corporation (MCC) met with officials from the Sri Lankan government in Colombo on Tuesday, the DailyFT reports.
The MCC, a bilateral US foreign aid agency, discussed economic growth strategies and planned solutions to eradicate poverty through growth with Minister of Finance Ravi Karunanayake and the Acting Foreign Minister Harsha de Silva.
Last December Sri Lanka was approved to receive aid from the MCC, through a "full compact", which will release funding for over $900mn.
The MCC is an independent U.S. Foreign aid agency that builds partnerships and provides funds to countries committed to good governance, economic freedom, and investments in their citizens. It works to reduce global poverty through economic growth and allocates budgets depending on how countries score on specific indicators, including indicators on human rights.
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