Press Release

For Immediate Release

November 20, 2008

Contact: 202-521-3850

Email: info@mcc.gov

MCC and Georgia Committed to Economic Growth

MCC CEO and Georgian Prime Minister Sign Grant for $100 Million in Development Assistance

Tbilisi, Georgia Millennium   Challenge Corporation (MCC) CEO Ambassador John Danilovich and Georgian Prime   Minister Grigol Mgaloblishvili today signed an amendment to the $295 million   compact with Georgia that grants up to an additional $100 million in U.S.  Government development assistance to Georgia. The additional funding will   complement activities currently funded by MCC, including the rehabilitation of   Georgias road network, infrastructure development and energy activities.

The millions of Georgians who live in   poverty will benefit in meaningful and tangible ways from this additional   investment in Georgiaslong-term economic development.This increased   cooperation represents new opportunities, new jobs, new technologies, expanded   productivity, and increased access to markets where goods can be traded.  Georgians will be able to tap into water sources and heat sources for their   homes and businesses said MCC CEO John Danilovich. A new day of hope   and growth is dawning, and I am pleased that the collaboration and partnership   between MCC and the people of Georgia can make this prosperous future a reality  Ambassador Danilovich added.

The additional funding will be used to complete   the Borjomi and Kobuleti water systems by building waste water networks and   rehabilitate the Kutaisi potable water system as well as three sections of road   connecting the Samtskhe-Javakheti region to Turkey and central Georgia. The   additional funds will also permit MCC to complete a comprehensive economic,  geological and environmental study, technical design and public/private   financing plan for the gas storage facility and related infrastructure.

Since April 2006, the Millennium Challenge   Georgia Fund, the Georgian entity designated by the Georgian government to   implement the programs funded by the compact, has been implementing   agribusiness, regional development, municipal infrastructure and energy   projects. MCC continues to coordinate closely with the Millennium Challenge   Georgia Fund and with a broad range of other United States government assistance   programs that support economic development in Georgia.

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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.