Press Release

For Immediate Release

September 17, 2008

Contact: 202-521-3880

Email: info@mcc.gov

MCC Board of Directors Discusses Georgia

CEO Announces Approval of Threshold Programs in Rwanda and Albania

Washington, DC At their quarterly meeting today, the Millennium Challenge Corporations (MCC) Board of Directors discussed the possibility of providing up to an additional $100 million to MCCs existing $295 million compact with Georgia. Any additional funding would be used to further support the original compact objectives of reducing poverty in Georgia through economic growth, including through expanding certain existing compact projects. Additional funding would require approval of MCCs Board, notification to Congress, and approval by the government of Georgia. The Board emphasized that any additional MCC funding to Georgia would be administered in accordance with MCCs assistance model.

Ambassador John Danilovich, Chief Executive Officer of MCC, announced today that since its June meeting, the Board approved MCCs first Stage II (or second) threshold program with the government of Albania. The program will build upon the early successes of Albanias initial threshold program, set to conclude in November of this year, and will support new activities in the areas of public administration and improving the capacity of the judiciary. The program will target those policy areas that most impact Albanias performance on the MCC compact eligibility criteria.

In addition, Ambassador Danilovich also announced the approval of its first threshold program with the government of Rwanda. The program will strengthen civic participation, promote civil liberties and rights and improve the judicial system.

Finally, MCCs Board noted that MCC is no longer able to work with Mauritania. MCC and its Board of Directors are committed to rewarding countries that demonstrate a commitment to good governance and democracy and will fully comply with U.S. law prohibiting assistance to countries whose duly elected government has been deposed by a military coup. MCCs threshold program is designed to support and accelerate ongoing reforms in countries that are close to qualifying for MCC compact assistance and have demonstrated a commitment to adopting political,  economic, and social reforms that will improve their chances of being selected for MCC compact eligibility. The recent events in Mauritania are inconsistent with these criteria, and MCC has stopped working with Mauritania to develop a threshold program.

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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, please visit www.mcc.gov.