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 The Newsletter of the Millennium Challenge Corporation |
September 2007  |
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MCC CEO Expresses Serious Concern Regarding the Funding Level in the FY 2008 Senate Appropriations State-Foreign Operations Bill On September 7, 2007, the U.S. Senate passed the Fiscal Year 2008 State-Foreign Operations Appropriations bill providing only $1.2 billion for the Millennium Challenge Corporation. MCC Board of Directors Approves $285 million Compact with Mongolia MCC Board of Directors Approves $20.6 million Threshold Program with Yemen On September 12, 2007, the Millennium Challenge Corporation’s Board of Directors approved a two-year, $20.6 million Threshold Program with Yemen. The Program is designed to improve Yemen’s performance on MCC’s Rule of Law, Control of Corruption, Political Rights, Fiscal Policy and Government Effectiveness indicators. MCC Board of Directors Approves $8.66 million Threshold program with São Tomé and Principe On September 12, 2007, the Millennium Challenge Corporation’s Board of Directors approved a two-year, $8.66 million Threshold Program with São Tomé and Príncipe. The Program seeks to improve the country’s performance on MCC’s Economic Freedom indicators. MCC Board of Directors Approves New Selection Indicators MCC Board of Directors Approves $698 Million Poverty Reduction Grant for Tanzania Millennium Challenge Corporation’s Board of Directors approved a five-year, $698 million Compact with the United Republic of Tanzania to reduce poverty, stimulate economic growth, and increase household incomes through targeted infrastructure investments in transport, energy, and water.
Notable Quotable: “So we are complementing our assistance with creative new partnerships with governments, civil society, and the private sector throughout the hemisphere. One such effort is the Millennium Challenge Account initiative, which directs development grants to those countries with proven records of governing justly, advancing economic freedom, and investing in people. Through the Millennium Challenge Corporation, we are making long-term investments in the success of responsible governments in places like Honduras and El Salvador, and hopefully more to come.”
Ambassador John Negroponte
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