Humanitarian Development Program - Millennium Challenge Corporation to add two African partners

Millennium Challenge Corporation to add two African partners (24/05/07)

The Millennium Challenge Corporation (MCC), a U.S.-funded development aid organization, expects to sign two new funding agreements, with Mozambique and Lesotho, in the summer of 2007, according to the corporation's chief executive officer, John J. Danilovich.

Speaking May 22 at the Africa Day Public Forum at MCC headquarters in Washington, Danilovich said a large majority of new MCC agreements, or "partnership compacts," are likely to be in Africa. The corporation expects to commit $3 billion in grants to the continent in the next 12 months.

MCC and its African partner countries share a common purpose of "reducing poverty through growth" and improving lives "in a transformative and sustainable way," Danilovich said.

The corporation has established contacts with 40 countries throughout the world, 19 of which are in Africa, Danilovich said. It has 11 partnership compacts under implementation -- five with the African countries of Benin, Cape Verde, Ghana, Madagascar and Mali. These five compacts total more than $1.5 billion, or half of what MCC has awarded so far, Danilovich said.

MCC, an independent corporation established by the U.S. government in 2004, offers grants and technical assistance to developing countries committed to good governance, investing in people and economic freedom.

The corporation determines a country's eligibility by using 16 indicators of social, political and economic policy performance. Eligible countries are asked to submit proposals and participate in the implementation of MCC programs.

Source: USINFO

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