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December 2005
Vol. 1 Issue 2
Message from the CEO:
I am deeply honored that President Bush asked me to serve as the CEO of MCC. I am committed to achieving MCC's mission to reduce poverty through economic growth.
I intentionally spent my first several weeks in Washington, DC, listening to people regarding their views about MCC and its direction. I have not only discussed MCC several times with President Bush and Secretary Rice, but I have also met with MCC eligible country representatives, Congressional members and their staffs, academics, CEOs and practitioners in the NGO community, private sector representatives, think tanks, other government agencies and MCC staff. These have been productive meetings that have illustrated to me the dedication everyone has to ensuring that MCC fulfills its mission. I am humbled by the keen interest and enthusiasm for MCC's work.
MCC enters 2006 charting a new course forward. Thank you for your continued interest and support.
Ambassador John Danilovich
Recent Events
MCC in the News
Notable Quotable
“I think it's [MCC] really one of the most, I think, by far the most efficient tool of help I'd ever seen and I've seen many assistance programs in my country for the last decade. And I think this is the most efficient, this is the most targeted one, and this is going to produce most of the results.”
Georgian President Mikheil Saakashvili
September 12, 2005
New York, New York
Transcript
Ask the Expert
Millennium Challenge Monthly is launching a new section called “Ask the Expert” to highlight the development experts at MCC and allow you to ask them a few questions. Our featured expert this month is Felipe Manteiga, Managing Director for Agricultural Programs. More
Term of the Month:
Due Diligence
After an eligible country formally submits a Compact proposal, MCC goes through a rigorous process of conducting due diligence. The purpose of due diligence is to determine whether the proposal that an MCA eligible country has submitted meets MCC criteria for funding. Due diligence is done primarily for two reasons:
(1) To ensure that programs are effective: MCC wants to ensure that the proposed programs not only promote the maximum level of poverty reduction and economic growth, but also don't have adverse impacts that undo the progress made through the program; and
(2) To ensure that funds are utilized well: As a fiduciary of the U.S. taxpayer, MCC works very hard to ensure that funds are directed to the ends they were intended, in the most efficient manner possible. In doing this, MCC seeks to garner public support by reassuring those who have traditionally been skeptical of U.S. foreign assistance. More.
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