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Fiscal Year 2023 Annual Report

Since its creation in 2004, MCC has transformed over 380 million lives and created opportunities in its partner countries by focusing on one mission: reducing poverty through economic growth. By taking a country-led, results-driven approach to foreign assistance, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights. MCC empowers the poor and catalyzes private investment for public good, creating a more secure world with more opportunities for economic growth at home and abroad.

  1. This report captures the progress made across MCC’s portfolio in FY 2023, including advancing programs in 22 partner countries and moving strategic and operational priorities forward as the agency marks its 20th anniversary in 2024.

  2. Since its founding, MCC and its partner countries have completed 32 compacts, totaling more than $10.4 billion in total expenditures.

  3. In FY 2023 MCC intensified its efforts to form partnerships for the development and implementation of compact and threshold programs and continued to utilize partnerships to enhance the agency’s analytic and diagnostic methods and tools.

  4. By holding its partner countries accountable to high standards of good governance and by capitalizing on private investment and expertise, MCC is delivering development results and creating new opportunities for U.S. firms in frontier markets.