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Press Release

MCC Board Authorizes Termination of the Mali Compact

For Immediate Release

May 7, 2012

Washington — On May 4, 2012, the Millennium Challenge Corporation’s (MCC) Board of Directors concurred with the recommendation of MCC Chief Executive Officer Daniel W. Yohannes to terminate the Mali Compact following the undemocratic change of government in the country.

In announcing the Board’s decision, Mr. Yohannes made the following statement: "MCC was designed to work with countries that uphold the principles of democratic governance and the rule of law. The recent military coup in Mali represents a clear departure from MCC’s values and the principles articulated in MCC’s selection criteria. In light of the ongoing situation, MCC will formally terminate its partnership with the Government of Mali and has initiated an orderly wind up of compact activities."

Consistent with this decision, the compact will end early—no later than August 31, 2012—and MCC will not complete the anticipated set of activities. MCC will work with Millennium Challenge Account-Mali to ensure that compact termination is responsible and orderly. MCC is taking all necessary steps to safeguard and preserve its compact investments to date and to protect the safety and well-being of individuals affected by those investments. MCC is currently working to ensure that program-related assets are properly accounted for as part of this process.

Mr. Yohannes also stated, “MCC remains concerned about the future of the people of Mali and is saddened by the fact that an undemocratic seizure of power by so few has caused the termination of a compact with the potential to improve the lives of so many. MCC joins the whole of the United States Government in calling for full and quick restoration of constitutional civilian rule in Mali and looks to all actors in Mali to resolve the ongoing political and security crisis.”

From 2006 to 2012, MCC and the elected Government of Mali worked in close partnership to develop and implement a $460 million compact designed to benefit more than two million poor Malians. The Mali Compact included two projects: the Bamako Sénou Airport Improvement Project to improve Mali’s link to the regional and global economy and the Alatona Irrigation Project, which includes infrastructure and social investments to increase agricultural productivity in the Alatona zone. The compact had been scheduled to conclude on September 17, 2012.