Cabinet approval has been granted to increase the grant provided by the Government of the United States of America up to USD 52.835 million for the “Programme for a Sri Lanka with democracy, prosperity and the capability to face disasters”.
According to the government, an agreement was signed between the Governments of Sri Lanka and the USA in August 2022 to receive a grant to finance the said programme.
Under the agreement, Sri Lanka was granted an amount of USD 9.069 million and during the year the value of the grant was revised up to USD 28.299 million twice.
However, the United States Agency for International Development (USAID) has proposed to further increase the value of the grant up to USD 52.835 million.
Accordingly, the Cabinet approved the proposal presented by the President, in his capacity as the Minister of Finance, to revise the corporative agreement by increasing the grant up to USD 52.835 million for the said programme. (Newswire)
