|
The Millennium Challenge Corporation (MCC) is an innovative and independent U.S. foreign aid agency that is helping lead the fight against global poverty.
Established in January 2004 with strong bipartisan support, MCC is changing the conversation on how best to deliver smart U.S. foreign assistance by focusing on good policies, country ownership, and results.
MCC forms partnerships with some of the worlds poorest countries, but only those committed to:
- good governance,
- economic freedom,
- and investments in their citizens.
MCC is managed by a chief executive officer, who is part of the nine-member Board of Directors. The Secretary of State, the Secretary of the Treasury,
the U.S. Trade Representative, and the USAID Administrator serve on the board along with four private sector representatives.
In March of 2006, the Millennium Challenge Corporation signed a five-year, $65.69 million Compact with the Government of Vanuatu to reduce poverty
and stimulate economic growth by targeting the country's poor transportation infrastructure. The Compact will benefit poor, rural agricultural producers
and providers of tourist related goods and services by reducing transportation costs and improving the reliability of access to transportation services.
The MCC Compact in Vanuatu entered into force (EIF) in April of 2006, formally initiating the 5-year timeline for project implementation.
|
