At its quarterly meeting, the U.S. Government’s Millennium Challenge Corporation (MCC) Board of Directors met to select countries eligible for MCC assistance, which is designed to spur economic growth and reduce poverty.
At its quarterly meeting on June 17, the Millennium Challenge Corporation Board of Directors voted to approve a $375-million, power-sector-focused compact with Benin. The Government of Benin will make a financial contribution of $28 million towards the program.
MCC's Board of Directors approved three countries as eligible to develop compact proposals, six countries to continue developing compact proposals and two countries to develop Threshold Programs. The Board also approved a Threshold Program with Guatemala.
At its quarterly meeting Dec. 10, the Millennium Challenge Corporation Board of Directors voted to make Nepal, Mongolia and the Philippines eligible for new compacts and approved Guatemala's Threshold Program.
The CEO of the U.S. Government’s Millennium Challenge Corporation (MCC), Daniel W. Yohannes, is in Benin this week to celebrate the successful completion of MCC’s five-year, $307 million compact with the West African country.