WASHINGTON, D.C., November 5, 2018 – Today, the U.S. Government’s Millennium Challenge Corporation welcomed members of the MCC Advisory Council for the first meeting of the 2018-2020 term. The MCC Advisory Council, created in 2016, provides a platform for engagement with the private sector, building on the MCC’s ongoing work with the global business community.
The industry expertise, insights and technical recommendations of the Council’s 25 members will help to inform and deepen MCC’s public and private sector partnerships for greater leverage and impact in spurring economic growth and reducing global poverty. MCC believes the key to unleashing growth in its partner countries is through active engagement and collaboration with the private sector.
“Engagement with business is fundamental to MCC’s model and it’s great to see them continuing to prioritize these efforts,” new Advisory Council member Tam Nguyen said. “I’m honored to serve as part of this distinguished group of advisors to advance collaborations between MCC and the private sector.”
During today’s meeting, the members received an overview and update of MCC’s portfolio and milestones and discussed the MCC selection process. The Council also had the opportunity to meet with David Bohigian, Executive Vice President at the Overseas Private Investment Corporation (OPIC) and James Mazzarella, Senior Director for Global Economics and Development at the National Security Council, to discuss the landscape of development finance and the Better Utilization of Investments Leading to Development (BUILD) Act, a recently signed law that establishes a modern, U.S. development finance institution.
“Following the first term of the MCC Advisory Council, MCC is eager to continue to engage with a dynamic group of external stakeholders in this way,” MCC Acting Vice President of Compact Operations Kyeh Kim said. “The members that served for the inaugural term set a strong foundation for this engagement and we are excited to build on this shared success in the coming term.”
The MCC Advisory Council meets at least two times a year, and members provide insight on innovations in infrastructure, technology and sustainability; perceived risks and opportunities in MCC partner countries; new financing mechanisms for developing country contexts; and shared value approaches. The membership of the 2018-2020 term includes new members, as well as some returning members from the inaugural term.
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 poor countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. Learn more about MCC at www.mcc.gov.