Prime Minister Filat, Foreign Minister Leanca, Secretary Clinton, Ministers and members of the Moldovan delegation, Distinguished ambassadors, MCC Board Member Lorne Craner,
Welcome to the signing of the 262 million dollar compact between Moldova and the U.S. Governments Millennium Challenge Corporation. This compact is designed to reduce poverty and create opportunities for the Moldovan people by stimulating economic growth.
Let me begin by thanking the chair of MCCs Board, Secretary Clinton, for her strong support of our efforts to fight global poverty. Let me also congratulate those people whose efforts have made this day possible. We applaud the work of the Moldovan and MCC teamsled respectively by Valentina Badrajan and Chris Williams. Your hard work will benefit the people of Moldova today and well into the future.
We are united in a shared drive to deliver results. The compact we sign today is more than words on paper. It is an action plan to achieve the goals Moldovans have identified for their economic development.
For this plan to succeed, it also requires a policy environment that promotes good governance, respects the rule of law, and champions civil liberties and economic freedom. It needs a government committed to investing in people, and standing up to corruption.
The Moldova-MCC partnershipwhich reflects the friendly ties between Moldova and the United Stateswill invest in two key sectors: agriculture and transportation.
First, the transition to high-value agriculture project will increase the incomes of Moldovan farmers. In a country where more than 40 percent of the people are employed in agriculture and agribusiness, investing in this sector means investing in the backbone of the Moldovan economy. This project will rebuild irrigation infrastructure and transfer management and operation to farmers. It will provide access to finance to drive investments in agricultural products. It will help farmers transition to higher-value crops and compete in new markets.
Second, the road rehabilitation project will improve 93 kilometers of a major transport corridor, which will reduce costs and promote commerce.
Moldovas compact provides a comprehensive approach to economic growth by including reforms in how water is managed and how roads are maintained. The compact is a way to leverage the private sector. This compact builds on the partnership between MCC and the U.S. Agency for International Development to help Moldova achieve its development goals. Finally, the compact offers an integrated solution for reducing poverty. It increases agricultural productivity, promotes food security, and provides access to markets by safer roads.
Mr. Prime Minister, I praise you and your fellow citizens on Moldovas MCC compact. What matters now is implementation—to execute the projects with transparency, accountability, and results.
This is the first MCC compact I will sign as MCCs CEO. I want you to know that it will have a very special place in my heart. I am pleased this agreement focuses on what we need for sustainable growth: innovation and results. Mr. Prime Minister, we will be watching the developments with great interest. Let us, together, create opportunities for the people of Moldova to chart a better future for themselves and their families.
Honored guests, Ladies and gentlemen,
It is now my pleasure to introduce the Chair of MCCs Board, Secretary of State Hillary Rodham Clinton.