MCC Board Celebrates Successful Kosovo Threshold and Morocco Compact Programs, Discusses Portfolio
For Immediate Release
March 30, 2023
The Millennium Challenge Corporation’s (MCC) Board of Directors held its quarterly meeting today and received an update on the successful Kosovo threshold program and Morocco compact.
“MCC learned much from our Kosovan and Moroccan partners. The ambitious Kosovo threshold program achieved a great deal; providing a solid foundation from which the Kosovan government is already building to improve energy access and reliability, empowering women, and improving governance and transparency. Together we are building on these successes through the subsequent compact grant program,” said MCC’s Chief Executive Officer Alice Albright. “Over almost two decades, MCC’s $1.1 billion investment through two compacts in Morocco is evidence of the longstanding friendship between our two countries. The government of Morocco has been a steadfast partner in addressing challenging reforms in the land and education sectors throughout this compact, unlocking the potential of its most valuable resource: the Moroccan people.”
The Board received an update on the agency’s global portfolio and achievements in important initiatives, including efforts to accelerate program development. The Board also discussed MCC’s partnership with Tunisia, as it has at each of its meetings since July 25, 2021. The Board affirmed that MCC remains unable to advance the proposed compact at this time, but it would welcome the opportunity to do so if conditions improve.
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.