Press Release

For Immediate Release

May 15, 2008

Contact: 202-521-3850

Email: info@mcc.gov

MCC and the Phelps Stokes Fund Sign a Memorandum of Understanding Advancing Diversity and Development

Washington, D.C.  Today, during an event in the Rayburn   House Office   Building on Capitol Hill,  the Millennium Challenge Corporation (MCC) and the Phelps Stokes Fund (PSF) entered into a Memorandum of Understanding (MOU) that will support leadership and career development opportunities for PSF Ralph Bunche Societies (RBS) members. MCC CEO Ambassador John Danilovich and Chairman of the PSF Board of Trustees, Jonathan Cahn signed the agreement.

The MOU addresses opportunities for greater minority involvement in the international arena and is intended to create opportunities to better prepare minority students to become active participants in the global community, by carrying out various extracurricular activities such as providing student leadership development opportunities, summer internship experiences,  mentoring, and speaker exchanges for international education events.

The memorandum of understanding we sign this afternoon is an important step in ushering in a new day of cooperation that will expand and strengthen the diversity of the professionals dedicated to making our world a better place.  MCC is proud of its already strong commitment to diversity in the workplace and welcomes the chance to further the conversation about diversity and development,  said Ambassador Danilovich.

Chairman Cahn added I want to thank Ambassador Danilovich for his leadership and personal commitment to working with the Phelps Stokes Fund to make this program a reality. The memorandum of understanding formalizes a partnership between the Phelps Stokes Fund and the Millennium Challenge Corporation to mentor a new generation of global leaders and public servants, who will now include students of color and other young people from marginalized groups who might otherwise never had such an opportunity.

The Phelps Stokes Fund, through the Ralph Bunche Societies, endorses the Ralph Bunche legacy of perseverance, self-reliance, and the pursuit of academic excellence, activism, leadership and service. It also seeks to develop leaders for a global society, encourage active and engaged citizenry, and raise awareness of living in an interdependent society and the basic right of all humans to a dignified existence.

About MCC
The Millennium Challenge Corporation (MCC), a United States Government agency designed to work with developing countries, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty. MCC has signed Millennium Challenge Compacts with 16 countries totaling $5.5 billion. For more information, please visit www.mcc.gov.

About Phelps Stokes Fund
The mission of the Phelps Stokes Fund is to address the educational needs of the urban and rural poor of Africa, the African Diaspora,  and the United States, with particular attention to the needs of people of color and Indians of the Americas. The fund’s activity is founded on the conviction that true education depends on a fundamental respect for human dignity, the development of the full capacities inherent in each human being,  and the cultivation of social harmony. For more information, please visit www.psfdc.org.

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Millennium Challenge Corporation (MCC), a U.S. government corporation designed to work with some of the poorest countries in the world, 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