The President’s FY16 budget includes $1.25 billion for MCC to advance US global development priorities in poor countries demonstrating a commitment to good governance. This funding will support economic growth and leverage the power of the private sector.
Compacts in Development
The increase in funding will unlock key constraints to economic growth in Africa and Asia, incentivize policy and institutional reforms necessary for private investment, and improve the well-being of some of the world’s poorest people.
The Threshold Program has been designed to challenge countries to implement key policy and institutional reforms. In FY16, MCC will develop or continue implementing programs with Honduras, Guatemala, Sierra Leone and Cote d'Ivoire.
Compact Development Assistance and Oversight: 609(g) and Due Diligence
Detailed focus on pre-compact planning, oversight and post-compact evaluation is critical for successful investments and ensuring that MCC, partner countries & the development community can take advantage of the learning opportunities inherent in MCC programs.
The administrative expenses budget reflects MCC’s focus on gaining efficiencies while at the same time making necessary, prudent investments that increase overall productivity and organizational effectiveness.
Office of the Inspector General
The USAID Office of Inspector General will continue to conduct financial and performance audits and reviews for MCC.
Proposed Legislative Changes
MCC is seeking authority to implement concurrent compacts in a given country, to maximize impact and supplement its proven country-focused model with the ability to develop regionally oriented investments.
Appendix: FY 2014 Annual Performance Report and Plan
MCC’s evidence-based approach to selecting partners and evaluating results, as well as the current portfolio listing, sector results and beneficiary estimates, are detailed here.