The President’s New Global Development Policy Builds on Lessons Learned from MCC
New York, NY—The U.S. Government’s Millennium Challenge Corporation (MCC) Chief Executive Officer Daniel W. Yohannes made the following statement today after President Obama’s address at the Millennium Development Goals Summit at the UN Headquarters in New York.
I am proud to be part of the first U.S. Administration to develop a national strategy on global development, and excited to lead an agency that has experience putting into practice the principles at the heart of the new approach.
In his speech, the President mentioned that the purpose of development is creating conditions where assistance is no longer needed. MCC seeks partners who are committed to, and working towards, self-sufficiency. We create incentives for countries to do well in areas that Americans care about – good governance, economic freedom, and investing in people.
The President’s Global Development Policy builds on principles central to MCC’s model, with a focus on economic growth, selectivity, country-led planning, transparency and accountability for results.
The President also highlighted the returns on U.S. investments in our partner country El Salvador. Through an MCC compact, El Salvador has built rural roads and is raising the income of its people, creating sustainable solutions to stimulate economic growth and reducing poverty. In El Salvador’s rural Northern Zone, the Salvadoran government, MCC, and a U.S. company have combined efforts on an innovative public-private partnership to provide electricity to thousands of Salvadoran homes. MCC is working to leverage the private sector, philanthropic and non-governmental organizations to achieve our mission.
MCC is a critical part of the Administration’s global development strategy. Under the new policy, MCC will continue putting its principles into practice, sharing what it has learned, and staying on the cutting edge of effective and accountable development assistance.
For additional information about how MCC is contributing to the President’s Policy Directive on Global Development, click here.
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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.
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