Washington, D.C. — Dana J. Hyde, CEO of the U.S. Government’s Millennium Challenge Corporation, travelled to Chicago this week to meet with the local business community and other civil society leaders to discuss the agency’s investments around the globe. During this visit, Hyde announced to businesses in Chicago and across Illinois that over the next six months companies can bid on $100 million in contract opportunities for MCC-funded projects—as well as millions more in grant and public-private opportunities.
“One of my top priorities as CEO is to increase MCC’s partnerships with the private sector. I traveled to Chicago this week to let U.S. companies know that MCC can be a gateway to opportunity in new and frontier markets,” Hyde said.
This was Hyde’s first domestic outreach trip since becoming CEO of the U.S. Government agency last May.
“I’m proud that the Millennium Challenge Corporation held a number of events in Chicago this week. By creating markets where American firms can invest and grow, MCC is helping create economic opportunities abroad and in Illinois,” said U.S. Senator Dick Durbin (D-Ill.).
During the trip, Hyde headlined events hosted by:
- Chicago Council on Global Affairs: Hyde spoke regarding MCC’s role as a major contributor to U.S. government programs like Feed the Future that address global food security. MCC invests in food security and nutrition specifically because of its link to economic growth.
- Rotary International: Hyde’s remarks focused on MCC as a gateway to opportunity for U.S. businesses seeking to enter new markets. She conveyed that every MCC contract is an opportunity for an American company to bid, win, and to expand their business.
- Bread for the World: In addition to MCC’s role in addressing food security, Hyde spoke about MCC’s interest in pursuing regional investments, which would allow MCC to comprehensively address the value chain that is critical to food security. By linking farms to markets, people to power and households to water, a regional approach could enhance MCC’s impact and help countries work together to accelerate economic growth.
- German Marshall Fund of the United States: Hyde conveyed that, as a core principle, MCC expects all of our partners to respect democratic rights and good governance. From country selection through project implementation, MCC constantly monitors a country's commitment to combating corruption throughout the life of the partnership.
- Ghana National Council: This discussion focused on the strong shared history between MCC and Ghana. One of MCC's first compacts was with Ghana, and MCC’s new five-year, $498 million Ghana Power Compact is one of the agency’s most innovative investments to date. The compact is a major contribution to President Obama’s larger Power Africa initiative, where MCC expects to invest $2 billion in power generation, transmission and distribution, and household connections in the coming years.
Hyde also met with students from the Kellogg School of Management at Northwestern University to discuss their thoughts on the future of foreign assistance and the private sector’s role in ending poverty.
The Millennium Challenge Corporation, a U.S. Government agency designed to work with some of the poorest countries in the world, is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people that promote economic growth and elimination of extreme poverty. Learn more about MCC at http://www.mcc.gov.
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