WASHINGTON, D.C., July 12, 2018 – The Chief Operating Officer of the U.S. Government’s Millennium Challenge Corporation (MCC), Jonathan Nash, participated in a panel discussion yesterday on promoting regional investments and trade in Africa, during which he highlighted MCC’s expanded partnership with the African Development Bank (AfDB) on regional collaboration. The panel was part of the 2018 African Growth and Opportunity Act (AGOA) Forum in Washington, D.C.
“At MCC, we are very excited about the potential of regional investments to transform the lives of millions of people, and we will approach those investments with the same rigor and commitment to good governance that has been our hallmark,” said Millennium Challenge Corporation COO Jonathan Nash.
The panel, “Regional Investments: Unlocking economic growth and reducing poverty through regional integration, trade and cross border collaboration,” which was co-chaired by COO Nash, highlighted opportunities and challenges associated with regional investments.
In April, Congress passed and President Trump signed the AGOA and MCA Modernization Act granting MCC the authority to make regional, concurrent investments to promote economic growth, maximize poverty reduction, and facilitate trade and investment. The new authority enables MCC to become an even more important strategic tool for the U.S. to increase stability and security around the world, while supporting trade and creating opportunities for the private sector.
The panel discussion also featured co-chair Moono Mupotola, Director for Regional Development and Regional Integration at AfDB. Last week, MCC and AfDB announced a new expanded partnership in support of a shared commitment to reducing poverty through economic growth, including through collaboration on regional investments in Africa.
Additional panelists included Riccardo Puliti, Senior Director for Energy and Extractives at the World Bank; Nilmini Rubin, Executive Vice President of International Development at Tetra Tech; and Stephen Cashin, CEO and Founder of the Pan African Capital Group.
Since MCC’s creation in 2004, the agency has invested more than $7 billion in trade-related assistance to developing countries, with over $4 billion of that amount going to AGOA countries.
The annual AGOA Forum is the premier platform that brings together African Trade Ministers with U.S. counterparts to discuss working together to enhance the trade and investment relationship, including through AGOA implementation.
Read COO Nash's full remarks from the panel.
The Millennium Challenge Corporation is an independent U.S. government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to low-income countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. Learn more about MCC at www.mcc.gov.