By USAID Announces $24.5 Million Boost to Sri Lanka’s Economy and Governance
As the Presidential election campaigin is heating up President Ranil Wickramasingha is lucky to have a image booster from the US . The United States Agency for International Development (USAID) has pledged a $24.5 million investment to support Sri Lanka’s economic growth and good governance initiatives. The funding, equivalent to 7.2 billion rupees, will be allocated towards market-driven development and sustainable practices.
According to a statement from the US Embassy, the partnership between USAID and the Sri Lankan government aims to foster economic growth, protect the environment, and strengthen democratic institutions.
“This investment underscores our commitment to supporting Sri Lanka’s locally led solutions to its development challenges,” said USAID Assistant Administrator for the Bureau of Asia, Michael Schiffer.
Since 1956, the US has contributed over $2 billion in aid to Sri Lanka, focusing on sectors such as agriculture, education, healthcare, and infrastructure.
A ceremony marking the commencement of this new funding was held on August 9, attended by USAID Sri Lanka and Maldives Mission Director Gabriel Grau, State Minister of Finance Shehan Semasinghe, and other officials.
