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Millenium Challenge Corporation (MCC)

By Ryan Warren,2014-06-17 20:13
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Millenium Challenge Corporation (MCC)

    Millennium Challenge Corporation (MCC)

    1) Background

    a) United States Government corporation, designed to work with LDCs

    b) Established January 2004

    c) “MCC’s mission is to reduce global poverty through the promotion of sustainable

    economic growth.” d) country assistance eligibility

    i) 16 independent and transparent policy indicators

    ii) Compact Assistance.

    e) For those not yet eligible for compact assistance but have made significant improvements,

    Threshold Program assistance

    i) smaller grants designed to help improve performance on specific indicators

    2) Organization

    i) Led by a Chief Executive Officer, Ambassador John J. Danilovich

    ii) overseen by a Board of Directors

    (1) Condoleezza Rice

    (2) Henry M. Paulson, Jr

    (3) Susan C. Schwab

    (4) John J. Danilovich

    (5) Kenneth Hackett

    (6) Christine Todd Whitman

    iii) MCC is responsible for the stewardship of the Millennium Challenge Account (MCA),

    which receives funds appropriated by Congress every year

    3) Key Principles

    i) Reducing Poverty through Economic Growth

    ii) Good Policies Matter

    iii) Operate as Partners

    iv) Focus on Results

    4) Process for Country Selection

    i) Identify candidate countries

    ii) Publish selection criteria and methodology for country selection

    iii) Accept public comment

    iv) Select countries eligible for MCC program assistance

    5) Programmes

    i) Millennium Challenge Compacts

    (1) multi-year agreement between the Millennium Challenge Corporation and an eligible

    country

    (2) fund specific programs targeted at reducing poverty and stimulating economic growth

    ii) Millennium Challenge Threshold Programs

    (1) designed to assist countries that are on the “threshold,” meaning they have not yet

    qualified for MCA Compact funding

    (2) demonstrated a significant commitment to improve their performance on the eligibility

    criteria for MCA Compact funding

    6) Activities

    i) Anti-Corruption

    ii) Environment

    iii) Health

    iv) Press Freedom

    7) Eligible countries

    i) Albania iv) Bolivia vii) East Timor

    ii) Armenia v) Burkina Faso viii) El Salvador

    iii) Benin vi) Cape Verde ix) The Gambia

    x) Georgia xxi) Mali xxxiii) Sao Tome and xi) Ghana xxii) Moldova Principe xii) Guyana xxiii) Mongolia xxxiv) Senegal xiii) Honduras xxiv) Morocco xxxv) Sri Lanka xiv) Indonesia xxv) Mozambique xxxvi) Tanzania xv) Jordan xxvi) Namibia xxxvii) Uganda xvi) Kenya xxvii) Nicaragua xxxviii) Ukrainxvii) Kyrgyz xxviii) Niger e

    Republic xxix) Paraguay xxxix) Vanuatu xviii) Lesotho xxx) Peru xl) Yemen xix) Madagascar xxxi) Philippines xli) Zambia xx) Malawi xxxii) Rwanda

    8) Millennium Challenge Account

    i) “March 14, 2002 President Bush announced that the United States will increase its core

    assistance to developing countries by 50% over the next 3 years, resulting in a $5 billion

    annual increase over current levels by FY 2006.”

    ii) “The Administration sought a combined $6.8 billion for MCA program, FY2004-FY2006,

    while Congress appropriated $4.2 billion, or roughly two-thirds of the total sought. For

    FY2007, the MCC requests $3 billion, the House approved $2 billion,

     and the Senate Appropriations recommends $1.9 billion. As announced by the

     President in March 2002, the initial plan had been to fund the MCC annually at $5

     billion by FY2006.” From CRS Report for Congress

    Millennium Challenge Account

    Updated August 1, 2006

    Curt Tarnoff

    Specialist in Foreign Affairs

    Foreign Affairs, Defense, and Trade Division

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