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Millennium Challenge Corporation: MCC has Addressed a Number of Implementation Challenges, but Needs to Improve Financial Controls and Infrastructure Planning
David B. Gootnick (au)
Established in Jan. 2004 with a mission to reduce poverty through economic growth, the Millennium Challenge Corp. (MCC) has committed $6.9 billion for compacts with 19 developing countries. MCC vests compact management with accountable entities in recipient countries, called Millennium Challenge Accounts (MCA). MCAs allocate resources, oversee and implement a financial plan, approve expend. and procurements, and implement compact projects. This report assesses MCC and MCA: (1) financial controls; (2) procurement practices; and (3) development, implementation, and oversight of contracts and projects. It focused on MCAs in Honduras, Georgia, and Cape Verde, countries with high disbursement totals. Illustrations.
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