Press Release

For Immediate Release

November 18, 2008

Contact: 202-521-3850

Email: info@mcc.gov

Millennium Challenge Corporation and Agence Française de Développement Seek to Increase Cooperatioto Reduct Global Poverty

Memorandum of Understanding Specifically Addresses Potential for Cooperation in Africa

Paris, FranceThe Millennium Challenge Corporation (MCC) and the   Agence Franaise de Dveloppement (AFD) signed a Memorandum of Understanding   (MoU) today that seeks to increase international development coordination   between the two agencies and to make their poverty reduction efforts more   effective in Africa and throughout the developing world. MCC Chief Executive   Officer Ambassador John Danilovich and AFD Director General Jean-Michel Severino   signed the MoU at AFDs Paris headquarters during a meeting to share best   practices and discuss specific ways to   increase coordination.

I am pleased to   continue our partnership with AFD in the fight against global poverty. MCC and   AFD believe that supporting local solutions and focusing on good governance are   pivotal in achieving sustainable economic growth, said Danilovich.  This MOU will enhance MCC and AFD   coordination in helping our country partners, especially in Africa, improve the   lives of their people.

AFD CEO Jean-Michel Severino added that AFD   is pleased to build up a tighter relationship with MCC and to start working   together on concrete projects. He outlined that MCC has made major contributions   and is a sizeable player in the countries where AFD also   operates.

Focusing   initially on Africa, the MoU identifies practical areas for potential   cooperation in countries where both MCC and AFD are engaged, such as in Burkina   Faso, Benin, Morocco, Mali, Madagascar, and Senegal. The MoU provides a solid   framework to deepen field cooperation between MCC and AFD in a number of areas   such as microfinance, land tenure and agriculture.

In partner   countries where both agencies are active, MCC and AFD in-country representatives   will use their best efforts to meet regularly to review initiatives, exchange   information on programs, and identify lessons learned to enhance cooperation,  both bilaterally and inside formal donor and partner country forums. The   agencies also will meet to review how indicators are used to measure country   policy performance.

The activities outlined in the MoU are a   strong signal of both agencies commitment to the ideas in the Paris Declaration   on Aid Effectiveness. In addition to addressing ways to coordinate their   assistance, the MoU also notes the central role of country ownership in both   agencies programming, underlines support for partner countries to adopt   policies that support sustainable development, and addresses MCCs and AFDs   efforts to address the Millennium Development Goals (MDGs).

The full text of the Memorandum of   Understanding can be found at www.mcc.gov.

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, please visit   www.mcc.gov.

AFD is the   Agence Franaise de Dveloppement, a bi-lateral development finance institution   established in 1941 that works on behalf of the French government. Its mission   is to finance development according to Frances Overseas Development Assistance   policies. AFDs activities are aimed at reducing poverty and inequalities,  promoting sustainable economic growth, and protecting Global Public Goods of   benefit to all humanity. For more information, visit http://www.afd.fr/jahia/Jahia/.