Millennium Challenge Account Is Launched

The Board is chaired by Secretary of State Colin L. Powell and includes Secretary of the Treasury John Snow as Vice Chairman, U.S. Trade Representative Robert Zoellick, and USAID Administrator Andrew Natsios. Five additional members will be named later. The Board took a number of actions, including:

• Naming an interim CEO--Ambassador Alan Larson, Under Secretary of State for Economic, Business, and Agricultural Affairs;
• Approving the list of candidate countries that can compete for MCA assistance. The candidate countries for FY04 are those countries that have a per capita income of $1415 or less, are eligible to borrow from the World Bank’s International Development Association, and are not ineligible to receive United States economic assistance under part 1 of the Foreign Assistance Act of 1961 or any other provision of law (see attached list);
• Approving the bylaws for the corporation.

In his opening remarks, Secretary Powell noted that the MCC demonstrated America’s commitment to the principle that, "People matter. The plight of the world’s poor presents all of us with a profound moral challenge. Alleviating their suffering also holds profound implications for freedom and security across the globe. For a world in which ordinary people have hope for the future is a world in which democracy and prosperity will spread and tyrants and terrorists cannot thrive."

Secretary Snow added: "I want to thank Congress for working with the Administration to make a reality the President’s vision of an assistance program that rewards countries that govern justly, invest in their citizens, and promote economic freedom."

The Millennium Challenge Act of 2003 provides that, during FY 2004, countries shall be able to compete for funding from the Millennium Challenge Account if they:

• are eligible for assistance from the International Development Association;
• have a per capita income equal to or less than the historic ceiling of the International Development Association (or $1415 for FY 2004); and
• are not subject to legal provisions that prohibit them from receiving United States economic assistance under Part I of the Foreign Assistance Act of 1961, as amended.

The Board of Directors of the Millennium Challenge Corporation has identified the candidate countries below as able to compete for funding for FY 2004. These candidate countries will later be evaluated by the MCC Board to determine whether they should be able to submit proposals for MCC funding, based on a rigorous assessment of their commitment to development. The quality of proposals submitted will also be evaluated and final funding decisions then made.

1. Afghanistan
2. Albania
3. Angola
4. Armenia
5. Azerbaijan
6. Bangladesh
7. Benin
8. Bhutan
9. Bolivia
10. Bosnia and Herzegovina
11. Burkina Faso
12. Cameroon
13. Cape Verde
14. Chad
15. Comoros
16. Congo, Dem. Rep.
17. Congo, Rep. (Brazzaville)
18. Djibouti
19. East Timor
20. Eritrea
21. Ethiopia
22. Gambia
23. Georgia
24. Ghana
25. Guinea
26. Guyana
27. Haiti
28. Honduras
29. India
30. Indonesia
31. Kenya
32. Kiribati
33. Kyrgyz Republic
34. Lao PDR
35. Lesotho
36. Madagascar
37. Malawi
38. Mali
39. Mauritania
40. Moldova
41. Mongolia
42. Mozambique
43. Nepal
44. Nicaragua
45. Niger
46. Nigeria
47. Pakistan
48. Papua New Guinea
49. Rwanda
50. Sao Tome and Principe
51. Senegal
52. Sierra Leone
53. Solomon Islands
54. Sri Lanka
55. Tajikistan
56. Tanzania
57. Togo
58. Tonga
59. Uganda
60. Vanuatu
61. Vietnam
62. Yemen, Rep.
63. Zambia