April 1, 2009
MCC Signs $13.39 Million Grant with Senegal for Compact Development
April 1, 2009
Washington, D.C. The United States Governments Millennium Challenge Corporation (MCC) today signed a grant agreement with the Government of Senegal to provide up to $13.39 million to support the countrys development of compact that will reduce poverty through economic growth. This grant funding will be used for detailed designs for two irrigation projects, environmental and social assessment work for irrigation and road projects, the collection of data to monitor and evaluate activities, and implementation preparations for financial management and procurement.
In July 2008, the Government of Senegal submitted concept papers to MCC for investments in road rehabilitation, irrigation and water resource management and judicial reform. These projects would help farmers increase production of basic foods and commercial crops, provide improved access to markets and stimulate local commerce and regional trade. MCCs grant with the Government of Senegal does not constitute a commitment to sign a compact, but is an important milestone in MCCs compact development process.
For more information on how MCC is working together with Senegal to reduce poverty through economic growth, please visit: http://www.mcc.gov/countries/senegal/index.php.
The Millennium Challenge Corporation, a U.S. government agency designed to work with developing countries, is based on the principle that aid is most effective when it reinforces sound political, economic, and social policies that promote poverty reduction through economic growth. For more information about MCC, visit www.mcc.gov.