The Millennium Challenge Corporation (MCC) has selected Liberia as eligible to develop a compact in recognition of the country’s commitment to pursuing critical economic and democratic governance reforms. However, this selection marks only the beginning of a rigorous process, and the final determination depends on several factors, including analytical assessments, the availability of funds, and approval by MCC’s Board of Directors.
According to a statement from the US Embassy, MCC expects all partner countries to uphold the principles of inclusive democratic governance that form the foundation of its eligibility criteria. Liberia previously received an MCC compact grant in 2015 under President Ellen Johnson Sirleaf, which funded major projects such as the hydro reconstruction. The current selection as eligible does not ensure Liberia will receive a compact program, as eligibility is just one step in the broader development process.
MCC and the U.S. Embassy in Liberia will work closely with the Government of Liberia to initiate the compact development process. The size and scope of the final program will depend on detailed analysis conducted jointly by MCC and the Liberian government.
As a U.S. government agency established in 2004, MCC works to reduce global poverty through economic growth by providing time-limited grants that combine investments in infrastructure with critical policy and institutional reforms. “MCC is proud of our longstanding history with Liberia and is enthusiastic about embarking on a new partnership to advance opportunities for the people of Liberia,” said MCC’s Chief Executive Officer, Alice Albright.
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Source link : https://allafrica.com/stories/202412200528.html
Author : [email protected] (Liberian Observer)
Publish date : 2024-12-20 15:41:02
