ABSTRACT

Millennium Challenge Corporation [January 13, 2014]   [open pdf - 469KB]

"The Millennium Challenge Corporation (MCC) provides economic assistance through a competitive selection process to developing nations that demonstrate positive performance in three areas: ruling justly, investing in people, and fostering economic freedom. Established in 2004, the MCC differs in several respects from past and current U.S. aid practices: [1] the competitive process that rewards countries for past actions measured by objective performance indicators; [2] its mandate to seek poverty reduction through economic growth, not encumbered with multiple sector objectives; [3] the requirement to solicit program proposals developed solely by qualifying countries with broad-based civil society involvement; [4] the responsibility of recipient countries to implement their own MCC-funded programs, known as compacts; [5] a compact duration limited to five years, with funding committed up front; [6] the expectation that compact projects will have measurable impact; and [7] an emphasis on public transparency in every aspect of agency operations. […] On October 17, 2013, the President signed P.L. [Public Law] 113-46, the Continuing Appropriations Act, 2014, providing FY2014 MCC funding at the FY2013 post-sequester level of $853 million. The provision providing this appropriation expires on January 15, 2014. […] MCC issues include the level of funding to support MCC programs, the impact of budget reductions on MCC programs, the rate of program implementation, the results of MCC compacts, and procurement and corruption concerns. This report will be updated as events unfold."

Report Number:
CRS Report for Congress, RL32427
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Publisher:
Date:
2014-01-13
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Copyright:
Public Domain
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pdf
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application/pdf
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