The boardroom at the General Electric Company at 30 Rockefeller Plaza in New York City is a long way from villages in Ghana or rural communities in El Salvador. I was reminded this week, however, that the expertise, technologies, and resources of corporate America are important bridges to these faraway places. The private sector offers exciting, real options for growth for the poorest people of these countries, and MCC is partnering with the private sector to make our mutual efforts more effective and take this responsibility to heart. MCC signed an agreement with GE to explore areas of mutual cooperation and ways to leverage financing and technical know-how to help MCC countries find long-term solutions for reducing poverty and sustaining growth. From clean air and water technologies to corporate best practices, GE is willing to help our partners maximize their MCC funding to fulfill their own development priorities. GE Vice Chairman and CFO Keith Sherin and I spoke to a group of business leaders and opinion makers about the urgency for private sector engagement. MCC’s approach to foreign assistance—using a results-driven, corporate model —is encouraging the private sector to move beyond “charity” to a strong sense of corporate social responsibility in developing countries where they do business. I hope others will join the growing list of corporations that are engaging with our MCC partner countries. We’re creating a conversation about how these companies can and should provide the technologies, employment opportunities, and investments that will make MCC’s roads, bridges, ports, schools, and irrigation projects something that is much more than just stand-alone infrastructure. With the private sector’s involvement, they become real opportunities for sustainable development.

MCC countries must demonstrate a commitment to democracy to be eligible for our grant funding. Democracy is multifaceted—it’s not just about elections or governance—and we believe that well functioning democratic institutions provide an environment that leads to sustainable economic growth. Last week, MCC hosted an expert panel at our Washington headquarters to address this issue and to look at the links between a free press and economic growth. Our panelists agreed that raising the profile of this important issue is a cornerstone of what MCC helps partner countries strive for, and achieve. Keeping corruption in check requires a free press that can investigate, uncover, and report. Only when the press functions as a viable, independent institution can it truly fulfill its role in society. MCC programs in developing countries are training journalists, strengthening institutions that fight corruption, increasing transparency, and helping build democracies.

MCC continues to bring people around the table to talk about global poverty. Earlier this week while in New York to sign the memorandum of understanding with GE, I was reminded of how much interest there is in the United States to address this problem. From prominent members of the Philippine-American community, to business leaders, to the media, to promising students at places like Manhattan’s Hunter College, we are a nation that takes development assistance seriously. The U.S. taxpayer investment that MCC represents is a symbol of this commitment, but so is the urgency with which the private sector in America—through philanthropic efforts, involvement in critical issues like gender, the environment, human rights, and increased investment—has taken on this responsibility. Poverty is a problem that merits this serious contribution from public and private sector America, and MCC is proud to be part of this conversation and commitment.

(Technical edits were made to this post on April 9, 2008 at 5:13 p.m. —Ed.)

Last week’s MCC Board meeting added a new country to the list of countries eligible for MCC compact funding—the Philippines. This decision was actually the culmination of a discussion that began during our December meeting, when the Board asked for a deeper analysis of the data before making a final determination. The Board decided that, based on the Philippines’ continued performance on MCC’s indicators, it could now apply for funding for a large-scale poverty-reduction grant. The initial reaction to this announcement—from civil society and government partners—confirms that there is a great deal of interest and commitment from various sectors in helping the Philippines maintain its eligibility on the indicators we compile from independent, transparent, non-U.S. Government sources. A number of good ideas on this front—and some important concerns—were raised during our public outreach meeting following the Board meeting. It underscored for me that the best way to ensure that the Philippines’ policy-reform agenda continues is to keep it in the public eye. MCC compact eligibility certainly spotlights these efforts. Impediments to economic growth are issues that MCC takes seriously with all our partner countries, particularly corruption which receives special consideration as part of our model. The ball is now in the Philippines’ court to develop a proposal that involves broad consultation with its people and to continue tackling those problems that stand in the way of long-term economic growth.

People from diverse sectors of society continue to talk about MCC’s different model as conversations about foreign assistance increase, in communities both inside and outside the beltway. It is clear from these conversations that poverty reduction abroad is not just a “Washington issue.” It affects all Americans and was clearly on the minds of the business leaders who I met with at a recent event in Indianapolis organized by the Initiative for Global Development (IGD). An increasing number of companies, large and small, have asked MCC to explain how they can get involved to maximize the positive impact of MCC investments for the people of our partner countries. We view involvement from the private sector as key to our success.

MCC has a great deal to learn from companies who are operating internationally, and we continue to invite development experts, the NGO community, and the private sector to share best practices and discuss concerns with us. While grants from the U.S. Government can help address areas of critical need, they simply cannot provide the full range of technology and long-term market-driven investments that the private sector can. MCC offers the helpful push to spark the interest of the private sector that millions of people—living on less than $2 a day—desperately need. The responsible, long-term cooperation of the private sector is what will help these people through the “finish line” to experience an end to systemic poverty. (Read a recent Washington Post article that touches on these themes.)

With compacts in 16 countries and threshold programs in 17 countries, MCC’s work covers a broad spectrum of technical and policy areas. We are working to improve the way we communicate the nature of our work and have made recent changes to our quarterly status reports, including a new project timeline and other features. Our hope is that this report can offer a more detailed “snapshot” of where we are in our work with partner countries. We are also proud of our groundbreaking use of economic rates of return in our analysis. We’ve put this data on the web with interactive features for you to explore. We welcome your feedback, and I invite you to e-mail us at info@mcc.gov with your ideas for how we can improve the way we communicate with you as we work together to reduce poverty through economic growth .