Washington, D.C.—The Millennium Challenge Corporation (MCC) released its 2013 Annual Report entitled “Shared Values, Shared Prosperity,” which highlights the U.S. Government agency’s unique role in introducing America’s core values into global development assistance.
The report provides an overview of MCC’s work from October 1, 2012 to September 30, 2013, and showcases how MCC’s values—built around accountability, evidence-based decision making, transparency, and sustainability—contribute to improving the lives of the world’s poor while advancing U.S. interests for security, stability and economic growth.
MCC’s Chief Executive Officer, Daniel W. Yohannes, stated:
“MCC holds itself and its partners to the highest standards of accountability. And ultimately, by increasing the incomes of the poor and strengthening developing economies with which to do business and trade, MCC helps American businesses compete, drive growth and create jobs.”
Secretary of State John F. Kerry, who serves as the Chair of the MCC Board of Directors, stated:
“Foreign assistance is not a favor—it’s an investment in our shared security and prosperity. It helps nations to realize their potential, develop their ability to govern, fight corruption, advance the rule of law, and become our economic partners […] 11 of our top 15 trading partners used to be the beneficiaries of U.S. foreign assistance. And since 95 percent of the world’s customers live outside of the United States, we can’t afford to hamstring our ability to compete in these increasingly growing markets.”
The 2013 Annual Report provides a status update on current MCC programs worldwide and reviews results achieved in Morocco, Lesotho, Mozambique, Tanzania, and Mongolia where MCC compacts were completed during the last fiscal year.
The release of MCC’s latest Annual Report coincides with its 10th anniversary. The U.S. Government agency is using the historic milestone to continue a robust conversation centered on MCC’s model, investment results, evolving demographics of global poverty, the greater role business can play in development, and how partnerships make sense in an increasingly challenging fiscal environment.
To view the full 2013 Annual Report click here.
MCC is an innovative and independent U.S. agency that is working to reduce global poverty through economic growth. Created by the U.S. Congress in January 2004, with strong bipartisan support, MCC provides time-limited grants to countries that demonstrate a commitment to good governance, investments in people and economic freedom.