“This agreement was drawn up by the United National Party (UNP) at its whim, regardless of the interests of the country. We have warned against elections… Gunawardena said. In Sri Lanka, a presidential committee examining the Millennium Challenge Corporation`s (MCC) draft agreement with the U.S. government expressed reservations that certain clauses could not be implemented legally. The four-member committee, headed by Professor Lalithasiri Gunaruwan, who last week presented its interim report to President Gotabaya Rajapaksa, said that there were clauses and conditions in the agreement that would have a negative impact on national objectives and objectives, sovereignty and national security and would be incompatible with the legal framework and the Constitution, Financial Times Minister And Guna Gun. The president appointed a three-member committee headed by Professor Lalith Gunaruwan of Colombo University to review the agreement and, in an interim report, the commission said the agreement was contrary to Sri Lankan law and the constitution, said Gunewardena, who is also the cabinet spokesman. The main points of contention are: where does the money go and what does this funding mean? In accordance with the draft publicly available agreement, the MCC is providing this grant to address two of the “binding constraints” that Sri Lanka imposes on economic growth: (a) inadequate infrastructure and transport logistics planning and (b) lack of access to land for agriculture, services and industrial investors. Other concerns regarding the construction of a physical economic corridor, links to the SOFA and ACSA agreements, the acquisition of Sri Lankan land by the U.S. government, dumped land transactions, the construction of U.S. settlements and/or military bases, the construction of electric fences and the destruction of the local environment were also confirmed as unfounded in the review of the agreement. Gunewardene said Teplitz had responded to a reporter`s question during the recent interview about the government`s signing of the agreement that “the government`s current priorities are the election and response to the COVID 19 crisis.” February 28, Colombo: The Cabinet of Ministers has decided to suspend the signing of the Millennium Challenge Corporation (MCC) agreement after reviewing the recommendations of the committee appointed to review the agreement, said co-minister Bandula Gunawardena, a cabinet spokesman. This is a standard protection, characteristic of international aid agreements that are used to ensure that subsidies are used exclusively to achieve the pact`s objectives and do not fall into the wrong hands.
Colombo, February 29 (IANS) The Sri Lankan government has decided not to sign the Millennium Challenge Corporation`s (MCC) $480 million agreement with the United States, taking into account the recommendations of a committee that found that some of its features threaten the national security and well-being of the island state, he said. Indeed, Sri Lanka is often cited as a case study of debt trap diplomacy in the region and it is legitimate to argue that the government should be vigilant in reviewing the terms of future development agreements. Published by the Ministry of Finance, Sri Lanka: treasury.gov.lk/article/-/article-viewer-portlet/render/view/mcc-agreement-drafted-with-the-consent-of-ag The second argument is that the GCC agreement is an attempt to undermine Sri Lanka`s national security. While both allegations have been disputed by MCC country director Jenner Edelman, there remains a suspicion. ECONOMY – Sri Lanka denies reports that after August`s parliamentary elections it will sign a controversial financial aid agreement with the United States Millennium Challenge Corporation.