March 14, 2013
MCC Board Approves Honduras Threshold Program
Washington, DC — The U.S. Government’s Millennium Challenge Corporation (MCC) Board of Directors held its quarterly meeting today. This meeting was the first chaired by Secretary of State John Kerry. Also in attendance were new Board members Morton Halperin, Senior Advisor, Open Society Foundations and the Open Society Policy Center, and Lorne Craner, president of the International Republican Institute, who rejoins the Board for a second term. During the meeting, the Board approved a Threshold Program with Honduras and updates to MCC’s Suspension and Termination Policy.
The Board approved an MCC investment of up to $15.6 million for a Threshold Program in Honduras, the first under MCC’s new Threshold Program approach. The program’s activities aim to improve public financial management and improve the efficiency and transparency of public-private partnerships. The two program activities were determined after the Government of Honduras and MCC worked closely with the private sector, ministries and civil society to identify the binding constraints to economic growth in Honduras.
The Board also approved updates to MCC’s Suspension and Termination Policy, originally approved by the Board in 2005. Through the updated policy, MCC increased transparency around the variety of factors that have guided MCC’s suspension, termination and reinstatement decisions since 2005.