The United States believes that strong and inclusive economic growth is essential to the defense of Sri Lankan sovereignty and to the advancement of peace and reconciliation on the island and inclusive economic growth is also essential to the future prosperity of the Sri Lankan people.

“Strengthening the commercial ties between our nations is among my top priorities. I think that is the direction that we need to head in. and the United States believes that a strong and inclusive economic growth is essential. It is essential for the defense of Sri Lankan sovereignty and to the advancement of peace and reconciliation on the island,” US Ambassador Alaina B. Teplitz told members of the Sri Lanka - USA Business Council of the Ceylon Chamber of Commerce in Colombo yesterday (31).

Teplitz noted that, in order to promote inclusive economic growth and development the United States has offer, the government and people of Sri Lanka a 480 million dollar Millennium Challenge Corporation grant.

“A gift not a loan, but a gift from the people of the United States. This not a loan that might mortgage future of the country. And what will this grant support? Effort to improve the transportation infrastructure and to implement the Sri Lankan government land administration reforms,” Teplitz said.

“Developing Transportation and land administration were identified as the most significant constrains to economic growth in this country. And that is why these are the two sectors addressed by the MCC grant," ” Teplitz added.

Speaking further, US Ambassador noted that, under this agreement, Sri Lanka will retain oversight and control of all aspects of the proposed projects, all roads undergoing improvements and every aspect of the effort to digitize land records and to produce accurate land surveys.

“The United States will not own, control, or in any way administer any land under this agreement,” she said,

The first project under MCC grant will address traffic congestion.

“Improve mobility is vital to unlocking the economic potential in Sri Lanka.”

“In 2014, Moratuwa University study, estimated that there were 1.9 million trips per day along the main corridors connecting Colombo with its suburbs. That number is expected to increase to 4.5 million trips per day by 2035.”

"Imagine today’s traffic more than doubling and then imagine yourself writing a check to pay for all that traffic congestion," Teplitz added.