Millennium Challenge Corporation; United States of America

The Right Resources for the Job

President Obama’s fiscal year 2011 International Affairs budget includes a $1.28 billion request for MCC.  With so many important domestic and international priorities competing for limited resources during these challenging economic times, we all have to be prepared to make tough choices.  Given limited resources, we will not be able to fund all the projects we would like to, but this is a solid request that allows MCC to continue to contribute to global poverty reduction in a meaningful way.  Secretary of State Hillary Rodham Clinton recently reminded us in her speech on development that helping the world’s poor bolsters America’s own security and prosperity.

I invite you to read our budget justification to Congress, which explains how we intend to add to our portfolio of results moving forward.  With Congress’s support for the President’s MCC budget request, we will be able to pursue partnerships with Malawi, Indonesia, and Zambia, with the hope of signing compacts with each of these countries.  Moreover, the fiscal year 2011 budget request will allow MCC to pursue a second compact with Cape Verde, a first in MCC’s history.

I am looking forward to appearing before the House Appropriations Subcommittee to explain MCC’s progress to date and how support for the fiscal year 2011 budget will allow us to deepen our impact in the fight against global poverty.