June 9, 2006
Millennium Challenge Corporation Statement on Fiscal Year 2007 House Appropriation
Washington, D.C. Today, the House passed the fiscal year 2007 Foreign Operations appropriations bill. The bill provides $2.0 billion for the Millennium Challenge Account (MCA), a 14% increase over last year’s enacted amount. The legislation will now await action by the Senate Appropriations Committee.
House passage of legislation providing $2 billion for MCA illustrates the resolve of Congress and the American people to ensure that our generosity is matched by tangible results in our partnering countries, s aid Millennium Challenge Corporation (MCC) CEO Ambassador John Danilovich. By targeting our MCA assistance to those nations that are committed to wide-ranging economic, social, and political reforms, we leverage our generosity to fulfill our Congressional mandate to reduce poverty through economic growth.
Ambassador Danilovich added, We look forward to working with appropriators to achieve a healthy appropriation for MCA in the Senate bill. MCA funding is essential to rewarding countries that have demonstrated their commitment to good governance. Not only does this reflect America ‘s core values, but creating hope and opportunity for the world’s poor also enhances U.S. security and promotes freedom and democracy throughout the world.
Since its inception in 2004, MCC has signed Compacts with eight countries Madagascar, Cape Verde, Honduras, Nicaragua, Georgia, Vanuatu, Benin and Armenia totaling more than $1.5 billion. Additionally under the agency’s Threshold Country Program, MCC has committed approximately $116 million in six countries: Burkina Faso, Malawi, Tanzania, Albania, Paraguay, and Zambia.
Millennium Challenge Corporation (MCC), a United States 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 good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty.