Swearing In Ceremony of the Honorable John Danilovich Chief Executive Officer of the Millennium Challenge Corporation

Thank you. Thank you. Delighted to be here to swear in Ambassador John Danilovich as the CEO of the Millennium Challenge Corporation. Welcome, Mr. President, to the Department of State. And I'd like to welcome John's family.

In 2003 in Monterrey, the President talked about the need to link American foreign assistance to good governance, that development was a two-way street, that it was important that the countries that were trying to govern wisely and democratically and do the best for their people be supported with the resources of the United States.

That concept became the Millennium Challenge Account and eventually the Millennium Challenge Corporation. Governed by a Board of Trustees, and I see a number of the members of the Board here, thank you for joining us, I think that the MCC is indeed beginning to transform the way that people think about development assistance. We've already had a number of development compacts with key countries around the world like Georgia and Nicaragua. But more importantly, every day, countries come ready to explain why they are governing wisely, why they are fighting corruption, why they are doing the best for their people and why they, therefore, deserve the support of the United States with its financial resources.

Mr. President, it was your vision that put this in place and I look forward to your comments to honor Ambassador Danilovich as he becomes the CEO. But we want to honor your vision and your foresightfulness in creating the Millennium Challenge Corporation.

Thank you, sir, for your leadership.