Phase V: Preparation for Entry Into Force

Once MCC and its partner country have signed a compact agreement, the funds will be committed and MCC will work with the partner country to establish the institutional framework required to execute the compact, including the establishment of the accountable entity (if not already established), selection of fiscal and procurement agents, selection of implementing entities, establishment of a dedicated bank account, and other actions.  During this period, a country may draw down on some of its compact funding to support these activities as it prepares for the entry into force of the compact, when the five year clock on MCC’s funding begins to count down.