Press Release

President Obama Requests $1 Billion for Millennium Challenge Corporation’s Fight Against Poverty

For Immediate Release

February 9, 2016

WASHINGTON, D.C. — President Barack Obama today delivered his fiscal year 2017 budget proposal to Congress, requesting $1 billion for the U.S. Government’s Millennium Challenge Corporation to continue fighting global poverty through economic growth in the coming year. The $1 billion request for MCC represents an increase over the agency’s $901 million budget in fiscal year 2016.  

“MCC’s investments support democracy, fight corruption, and promote American values while making measurable improvements in the lives of the world’s poor,” MCC CEO Dana J. Hyde said. “The President’s budget request would help unlock MCC’s potential to advance the stability of strategically important regions and continue to pioneer new and innovative approaches to development.”

MCC’s 2017 budget request is an opportunity to continue to expand on the success of the MCC model and will:

Address key constraints to economic growth in deeply impoverished countries. The 2017 request will fund programs in partner countries that have more than 56 million people living on less than $2 per day. Compact programs in development include Niger, one of the poorest countries in the world, and Kosovo, where nearly one-third of the population lives in poverty.

Maximize impact through regionally focused investments. Congressional support for potential MCC regional investments has been strong, and MCC continues to pursue new statutory authority for these investments as part of the President’s fiscal year 2017 budget. Lack of regional integration continues to be a key constraint to growth across many of MCC’s partner countries, and this authority is critical to allow MCC to make strategic regional investments that facilitate trade, generate high economic returns, and deliver economies of scale.  

Embed the United States more deeply in the fight against poverty in Asia—an economically dynamic and geopolitically important region. In 2017, MCC plans to bring forward compacts with Nepal, Mongolia and the Philippines, as well as a threshold program with Sri Lanka.

Deepen partnerships in Africa, where roughly 65 percent of the agency’s compact portfolio has been invested. The budget will support a threshold program with Togo and a compact with Lesotho, both of which have worked hard to improve their performance on MCC’s annual scorecard. MCC is also developing compacts with Côte d'Ivoire and Senegal. 

Support an accelerated compact development pace. Fully funding the 2017 budget request will allow compact development to occur at an efficient pace that responds to selected countries’ urgent needs with high-quality and cost-effective investment programs.

The President’s funding request is critical to realizing the opportunity for growth among MCC’s partner countries and delivering programs that address the scope of poverty and policy reform needed to make a lasting difference in people’s lives.  

Since its founding in 2004, MCC has partnered with 40 countries and committed more than $11.8 billion to fight poverty around the world through sustainable economic growth with a focus on country-led solutions, accountability and results. MCC’s singular focus on economic growth is one of the most effective ways to achieve widespread and lasting reductions in poverty in the developing world.

MCC’s fiscal year 2017 Congressional Budget Justification can be found here.



The Millennium Challenge Corporation is an innovative and independent U.S. Government agency 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 and assistance to countries that demonstrate a commitment to good governance, investments in people and economic freedom. Learn more about MCC at