Millenium Challenge Corporation Progress And Challenges With Compacts In Africa

In Jan. 2004, Congress estab. the Millennium Challenge Corp. (MCC) to administer the Millennium Challenge Account. MCC's mission is to promote econ. growth & reduce extreme poverty in developing countries. MCC must rely on quantitative criteria in determining countries' eligibility for assistance. MCC will provide assistance primarily through compacts -- agree. with country gov'ts. MCC aims to be one of the top donors in countries with which it signs compacts. For FY 2004 & 2005, MCC received $2.5 billion; for FY 2006, $3 billion. This report monitors MCC's: (1) process for determining country eligibility, (2) progress in developing compacts, (3) coord. with key stakeholders, & (4) estab. of mgmt. structures & accountability mechanisms. Illus.

This is a print on demand edition of a hard to find publication. The Millennium Challenge Corp. (MCC) provides aid to developing countries that have demonstrated a commitment to ruling justly, encouraging econ. freedom, and investing in people. MCC provides assistance to eligible countries through multi-year compact agreements to fund specific programs targeted at reducing poverty and stimulating econ. growth. This report includes fact sheets for 17 of the MCC compacts that had entered into force as of 12/09, which summarize each country¿s: general characteristics; timeline of key compact events as of 6/10; performance on MCC¿s eligibility indicators; per capita income relative to MCC income criteria; compact characteristics and structure; compact funding and project allocations as of 12/09.