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Congressional Budget Justification, FY2015

  1. The President’s FY2015 request is $1 billion and based on the opportunity to advance US global development priorities in a limited number of countries demonstrating a commitment to good governance.

  2. The increase in funding will support compact investments in countries to unlock key constraints to economic growth, incentivize policy and institutional reforms necessary for private investment, and improve the well-being of some of the world’s poorest people.

  3. The Threshold Program has been designed to challenge countries to implement key policy and institutional reforms. In FY 2015, MCC plans to use $30.0m to support the planned Nepal Program and programs in up to two new countries.

  4. A detailed focus on pre-compact planning, oversight and post-compact evaluation is critical to success and to ensuring that MCC, our partner countries and the development community can take advantage of the learning opportunities inherent in MCC programs.

  5. The flat administrative expenses budget proposed reflects MCC’s focus on gaining efficiencies while at the same time making necessary, prudent investments that increase overall productivity and organizational effectiveness.

  6. The USAID Office of Inspector General will continue to conduct financial and performance audits and reviews of MCC and Millennium Challenge Account entity activities, as well as oversee and review the annual external audit of MCC.

  7. In addition to the base request of $1 billion, the President is proposing $350 million for MCC as part of the $56 billion Opportunity Growth and Security Initiative because of MCC’s strong commitment to evidence, evaluation and impact-based budgeting.

  8. As part of MCC’s efforts to efficiently pursue its mission, the budget proposes limited legislative changes including a provision to extend a compact for exceptional circumstances and another addressing Board Member continuity.

  9. This section contains highlights of recently closed compacts, tables of program obligations by year, details of compact modifications, and detailed program results by sector.

  10. MCC's Board uses an evidence-based decision making process to select countries as eligible to develop a proposal for MCC assistance.

  11. The APR summarizes MCC’s progress in achieving its annual corporate goals for FY 2013. Each goal relies on a number of milestones and targets, which MCC officials are available to discuss in further detail.