New York, NY—The U.S. Government’s Millennium Challenge Corporation’s (MCC) Chief Executive Officer Daniel W. Yohannes participated in a roundtable discussion on Thursday, February 24 at the Council on Foreign Relations (CFR) in New York City.
The discussion was moderated by Isobel Coleman, Director of the Civil Society, Markets, and Democracy Initiative at CFR, and focused on how MCC is reducing poverty through economic growth, delivering tangible results, and strengthening American interests abroad by promoting pro-market, democratic reforms in partner countries.
During the discussion, Mr. Yohannes highlighted MCC’s commitment to delivering results and ensuring that American taxpayers are getting a strong return on their development investments. He described how MCC works with partner countries to identify their constraints to growth, develop strategies to address those constraints, and make policy reforms that enhance the effectiveness and sustainability of MCC’s investments.
“MCC’s commitment to selectivity, accountability, transparency and results helps put the nations we partner with on a path to self-sufficiency and position them as the next generation of emerging markets,” Mr. Yohannes said. “We are working to help countries transition from development assistance to sustainable private sector-led growth, which will mean a brighter future for our partners and greater economic opportunity here at home through the development of new markets.”
MCC continues to make significant contributions to President Obama’s foreign policy priorities, including promoting global stability through development and supporting new aid initiatives such as food security and fiscal transparency. Lessons learned from MCC over the last seven years made important contributions to the 2010 Presidential Policy Directive (PPD) on Global Development Policy, and MCC will be an integral part of implementing the PPD’s focus on economic growth, selectivity, country-led planning, transparency, and accountability for results.
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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 http://www.mcc.gov.
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