<span style="color: #222222;">Sri Lankan Cabinet has approved the Millennium Challenge Corporation (MCC) grant of 480 million US dollars from the US Government. Earlier, President Maithripala Sirisena had said that he will not approve the deal after the main opposition had raised concerns over the agreement. MCC consists of grant funds for traffic management in Colombo, road construction island-wide and land administration improvements covering the whole country.</span><br />'' <span style="color: #222222;"><br />'' Finance Ministry said in a statement that these compact programmes to be funded by this project have been developed by the Sri Lankan officials of the line ministries and departments based on the needs of the country. Sri Lanka is the 37th recipient of such grant funds from the people of the United States of America.<br />''<br />''The Minister of Finance will sign the agreement in the near future as it was confirmed by the Cabinet today while the implementation will begin early next year. Opposition parties have been against the agreement saying there are tough conditions attached to it which impinges on Sri Lanka's sovereignty.</span><br />