Washington, D.C. — The U.S. Government’s Millennium Challenge Corporation (MCC) Chief Executive Officer Daniel W. Yohannes today announced a new MCC initiative to enhance private sector engagement and leverage new investment and development practices in MCC partner countries.
The Invitation to Innovate (I to I) initiative, which is being launched through an Annual Partnership Solicitation (APS), will seek innovative ideas from the private and non-governmental sectors to help expand the impact of MCC compacts and support MCC’s mission of reducing poverty through economic growth.
"It has been my goal since joining MCC to work even more collaboratively with the private sector,â€ stated Mr. Yohannes. "Our goal is to leverage aid dollars with private sector investments to ensure sustainable economic growth and poverty reduction.â€
Partnerships solicited through the APS are expected to provide new funding opportunities, introduce new technologies and approaches for development, increase the sustainability of MCC investments, and enhance training and expertise in the implementation of MCC compacts.
MCC is particularly interested in partnerships that can bring innovative project ideas to its compacts and allow the agency to expand the types of organizations that it typically works with. Partners may include private sector companies, non-governmental organizations, social responsibility funds, foundations, other donors, and development-oriented investment funds.
The new initiative is focused on partnerships in countries with compacts in development (Cape Verde, Indonesia, Zambia, Ghana), compacts in implementation (Lesotho, Tanzania, Ghana), and certain priority sectors (land tenure and property administration and road corridor development). MCC may consider expanding the initiative to include additional MCC partner countries and sectors in the future.
Companies and organizations may apply for a partnership opportunity with MCC by responding to the APS with a short concept paper that will then be reviewed by MCC and the MCC partner country. If the review is favorable, a full proposal may be invited. Partnerships are expected to involve MCC financing in the range of $50,000 to $2,000,000 and are expected to last from 12 to 60 months.
Potential partners interested in applying may do so here:
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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.
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