Millennium Challenge Corporation: Progress Made on

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Millennium Challenge Corporation: Progress Made on Key Challenges in First Year of Operations

In Jan. 2004, Congress estab. the Millennium Chall

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By David B. Gootnick (au); Jeanette M. Franzel (au)
Year: 2005
Pages: 102
Binding Paperback

Product Code: 1422300943

Description

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.

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