Press Release

For Immediate Release

November 12, 2008

Contact: 202-521-3880

Email: info@mcc.gov

MCC and Moldova Highlight Partnership and Development

Chisinau,  Moldova Millennium   Challenge Corporation (MCC) Vice President for Compact Development John Hewko is   completing a four-day visit to Moldova where he met with Moldovan Prime Minister   Zinaida Greceanii to discuss the progress of Moldovas MCC   compact proposal. During the visit, both reiterated their commitment and   continued cooperation refining the economic development assistance grant   proposal which will target Moldovas road network and   agricultural sectors in an effort to reduce poverty and create economic   growth.

Additionally,  while in Chisinau, Mr. Hewko and Prime Minister Greceanii signed a Memorandum of   Understanding, witnessed by U.S. Ambassador Asif   Chaudhry, highlighting the partnership and joint ownership of activities to be   funded by MCC that will refine projects included in Moldovas   compact proposal.The memorandum expresses that the government of   Moldova and MCC intend to conduct   feasibility and environmental impact assessments, and other analyses, to   determine how best to design and proceed with the proposed road rehabilitation   and agriculture projects. These studies will lay the foundation to ensure that   the projects proposed by Moldova would significantly   contribute to economic development and poverty   reduction.

In   February 2008, Moldova submitted a compact proposal   to MCC focused on the rehabilitation of nearly 600 kilometers of the countrys   national road network, including two road segments through the Transnistria   region, the rehabilitation of multiple centralized irrigation systems, the   provision of credit to farmers for small-scale irrigation and post-harvest   investments and related capacity building and training   activities.

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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.