MCC CEO Testifies Before House Foreign Affairs Committee

For Immediate Release

June 14, 2022

WASHINGTON (June 14, 2022) — The Millennium Challenge Corporation’s (MCC) Chief Executive Officer Alice Albright appeared before the House Foreign Affairs Committee today to defend President Biden’s fiscal year 2023 budget request for MCC.

In her testimony, Albright outlined how the funds will increase MCC’s ability to build on its proven, data-driven model of delivering development with impact.

“I am proud to lead an agency built on the pillars of effective development,” said Albright. “In this constrained budget environment, you can be assured that MCC’s catalytic investments are used efficiently and deliver high impact.”

“As in previous years, in FY 2023, we will build on our time-tested model to innovate and deliver impact across our portfolio. We will do this by focusing on three key areas: investments that help countries counter changes in the climate, inclusion and gender, and catalyzing private sector investment. In so doing, we will accelerate progress on our core mission of reducing poverty through “quality” economic growth. That is growth that is sustainable, inclusive, and private sector led.”

Read Albright’s full written remarks or watch the hearing.

The Millennium Challenge Corporation is an independent U.S. government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.

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