This event will be the first public presentation of the MCC Compact with Mongolia, scheduled to be signed on October 23, 2007. The nearly $285 million Compact is designed to increase economic activity, including exports, through a substantial improvement in the efficiency and capacity of Mongolia’s rail network. It is also intended to increase opportunities of ordinary Mongolians by enabling them to capitalize on their land assets more effectively as a platform for family income improvement, helping them to qualify for the more financially rewarding market-oriented jobs required in a developing economy, and ensuring that they become healthier and more productive as they enter the marketplace. Finally, the Compact is structured to enhance the sustainability of the proposed projects by promoting both long-term changes in the legal and regulatory environment, and building capacity to ensure that the Mongolians are able to carry forward the Program’s intended transformational impact .
Millennium Challenge Corporation