Fact Sheet Office of the Spokesman Washington, DC February 3, 2004 Millennium Challenge Account Is Launched
The Board of Directors of the Millennium Challenge Corporation (MCC) met on February 2, 2004 to launch this new U.S. Government corporation that will administer the Millennium Challenge Account (MCA). The MCA is an unprecedented assistance program initiated by President Bush that has received wide bipartisan support and $1 billion in funding for FY 2004 from Congress. 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: 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." More information on MCA is available at Candidate Countries for Millennium Challenge Account in FY 2004 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:
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.
Released on February 3, 2004 |