Washington, D.C.—As part of The Africa Society’s Ambassador Andrew Young Lecture Series on Africa, the U.S. Government’s Millennium Challenge Corporation (MCC) Chief Executive Officer Daniel W. Yohannes spoke this evening about MCC’s commitment to Africa.
“The Millennium Challenge Corporation and The Africa Society are both committed to helping Africans help themselves by replacing poverty with prosperity. Now more than ever, America’s prosperity and security are linked with that of developing countries, including those in Africa,â€ said Mr. Yohannes.
Part of America’s engagement with Africa is through the work of MCC. Of MCC’s $7.5 billion portfolio, $5.2 billion—approximately 70 percent—benefit the people of Africa. Of MCC’s 20 compacts, MCC is implementing active compacts in 11 countries in Africa and has funded smaller threshold programs in 10 African countries.
MCC’s commitment to Africa is helping the continent achieve the results, growth, and prosperity its citizens are pursuing. MCC’s partner countries in Africa are investing nearly 60 percent of their MCC compacts in transportation and agriculture, vital sectors for long-term growth, food security, and increased trade. These grants also are funding African-designed and -implemented policy reforms and projects in education, healthcare, power, finance, and land management.
“MCC takes a different approach to how we award U.S. development assistance. We seek to break aid dependency in Africa and replace it with the economic independence of African trade, commerce, and innovation,â€ said Mr. Yohannes.
To learn more about MCC’s partnership with Africa, please click here.
The Ambassador Andrew Young Lecture Series features distinguished speakers whose work has impacted and advanced the agenda of issues affecting the continent of Africa and U.S. — Africa relations. Previous speakers include: Johnnie Carson, Assistant Secretary of State for African Affairs; Congressman Donald M. Payne (D-New Jersey), Chairman of the Subcommittee on Africa and Global Health; Former Zambia President Kenneth Kauda; and Congresswoman Barbara Lee, (D-California).
The Africa Society is a national nonprofit, nonpartisan organization launched in January 2002.
Serving as a combination think-tank and public education organization, The Africa Society works to highlight the richness and diversity of Africa, as well as the economic opportunities that it offers.
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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 www.mcc.gov.
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