WASHINGTON, D.C., March 11, 2019— President Donald J. Trump delivered his Fiscal Year 2020 Budget proposal to Congress today, which included $800 million for the U.S. Government’s Millennium Challenge Corporation (MCC) to continue its work to reduce global poverty through economic growth by partnering with developing countries that show a commitment to good governance.
MCC’s budget request for Fiscal Year 2020 will support the agency’s efforts in 25 countries around the world to transition them from aid partners to trade partners. MCC’s mission of reducing poverty and spurring economic growth has been demonstrated to be one of the most effective ways to achieve widespread and lasting reductions in poverty in the developing world.
MCC’s business-like approach is based on selectivity, evidence-based decision-making—including transparent economic analyses—country ownership, and accountability, which are widely recognized as key tenets of effective foreign assistance. By holding the agency and our partner countries accountable for results and continued good governance, MCC advances American security and prosperity.
This budget request will:
- Operationalize MCC’s new concurrent compact authority for regional programs by exploring opportunities for regional integration in West Africa with five of our current country partners: Benin, Burkina Faso, Côte d’Ivoire, Ghana, and Niger.
- Support MCC’s efforts to strengthen women’s economic empowerment in our partner countries, in line with the Women’s Global Development and Prosperity Initiative.
- Provide funding for compacts with Timor-Leste, Lesotho, Kosovo, and Burkina Faso, all targeted to be finalizing project development or be negotiated in FY 2020.
- Support development towards new country partner selections made by MCC’s Board of Directors in December 2018, including Indonesia and Malawi, and continue development progression on previously selected countries of Sri Lanka and Tunisia.
- Continue development of a threshold program in The Gambia and the development of new threshold programs in Ethiopia and Solomon Islands, which were selected by MCC’s Board of Directors in December 2018.
- Maintain MCC’s rigorous oversight model and commitment to learning, which includes continuous review and evaluation of compact and threshold programs.
- Strengthen the environment for private enterprise in MCC partner countries through critical public policy reforms and institutional capacity building to create an enabling environment for investment.
- Continue streamlining and improving the compact development process to leverage efficiencies and reduce timelines while ensuring and improving the quality of MCC’s programs.
Reducing global poverty creates a more stable, secure world with more opportunities for prosperity at home and abroad. With cost-effective projects, a dedicated staff, and an evidence-based approach, MCC is a good investment for the American people.
Learn more about MCC at www.mcc.gov.