President Donald J. Trump yesterday delivered his Fiscal Year 2019 Budget proposal to Congress, including $800 million for the U.S. Government’s Millennium Challenge Corporation (MCC) to continue its mission of reducing global poverty through economic growth in select poor countries with a demonstrated commitment to good governance.
MCC’s proven, evidence-based model helps people lift themselves out of poverty, supporting stability around the world and U.S. security while creating new trade and business opportunities abroad for American firms.
MCC’s Fiscal Year 2019 budget request will support the development and implementation of MCC programs in 26 countries with a combined population of about 110 million people living on less than $1.90 per day. This request will not only advance good governance and economic growth around the world but also make lasting improvements in peoples’ lives and strengthen institutions so partner countries can better deliver much-needed services to their own people and catalyze new business opportunities for private firms.
MCC helps its partner countries create the right conditions for investment to support sustained economic growth that endures long after the agency’s five-year compacts come to an end. Investments by MCC have leveraged more than $6 billion in additional investments and commitments from the private sector and other development partners.
Full funding of this request will provide the agency the resources it needs to:
- Support compacts in Tunisia, Burkina Faso, and Sri Lanka, and the development of compacts in Timor-Leste and Lesotho, which were selected in December 2017 as eligible to develop compacts. In FY 2019, MCC anticipates the development of programs in up to 10 countries with another 16 programs in implementation.
- Strengthen the investment environment for private enterprise in MCC partner countries. MCC’s programs improve the environment for private business and innovation through significant policy, legal, regulatory and institutional reforms. These reforms make MCC’s partner countries more attractive to investors, including through public-private partnerships to more effectively deliver, operate and maintain much-needed services.
- Expand on the success of MCC’s model and continue efforts to maximize agency efficiency and effectiveness. This includes maintaining MCC’s rigorous oversight model and commitment to learning and monitoring and evaluation, establishing a strong and dynamic knowledge management system, and continuing to identify efficiencies in program development while maintaining program quality.
- Operate with a lean workforce and small overseas footprint, and enhance workforce productivity. This includes an organizational and learning needs assessment and new tools to improve workforce management based on future business needs.
With cost-effective projects, a lean staff, and an evidence-based approach, MCC is a good investment for the American people.
Original source: MCC
Published on 12 February 2018