22.9 C
Sierra Leone
Friday, March 29, 2024

$912Million for MCC2022Fiscal Year

HomeNewsBreaking News$912Million for MCC2022Fiscal Year

$912Million for MCC2022Fiscal Year

Date:

Related stories

Parliament ratifies Defence Agreements

The Parliament of Sierra Leone has debated and ratified...

Bishop Tamba Charles puzzled by low turnout for Holy Week activities

Archbishop Edward Tamba Charles of the Catholic Archdiocese of Freetown...

Pujehun District Entertainment Association Awards: Hon. Zombo: ‘Most Influential, Developmental Persons

The Pujehun District Entertainment Association, (PuDEA) has awarded Hon....

EVP hosts successful 2nd Championship Debate Competition in Sierra Leone

In celebration of its 14th anniversary, the ECOWAS Volunteer...

APC Party speaks on arrest of Dj Boxx in Guinea

The All People's Congress (APC) Party has issued a...

President Biden’s Fiscal Year (FY) 2022 budget requests $912 million for the U.S. Government’s Millennium Challenge Corporation (MCC) to continue developing and implementing programs to fight poverty and foster economic growth in partner countries.

The FY 2022 Budget request will allow MCC to deploy its rigorous, evidence-based development model, which is one of the most effective U.S. foreign assistance tools for achieving poverty reduction through sustainable and inclusive economic growth.

MCC’s time-bound grants invest in country ownership, policy and institutional reform, accountability and results-driven programs.

As countries are reeling from the health and economic impacts from COVID-19, MCC’s mix of infrastructure, social, and institutional investments will help spark a sustainable, more equitable and job-rich recovery.

MCC’s approach and model to international development strengthens U.S. national security, opens new markets for U.S. businesses, and leverages private sector investment and country partner contribution to maximize taxpayer dollars spent in the fight to end poverty around the globe.

The FY 2022 budget request will support ongoing and projected compact implementation across 9 countries, including Benin, Burkina Faso, Côte d’Ivoire, Ghana, Mongolia, Morocco, Nepal, Niger, Senegal; as well as the development of eight compacts in Indonesia, Kosovo, Lesotho, Malawi, Mozambique, Sierra Leone, Timor Leste, and Tunisia; two projected concurrent regional compact programs focusing on trade facilitation across borders: (1) the Benin – Niger Regional Transport Integration Program and (2) the Côte d’Ivoire – Burkina Faso Regional Energy Interconnection Program;Ongoing threshold program implementation in Guatemala, Kosovo, and Togo, as well as the development of threshold programs in Ethiopia, The Gambia, Kenya, Kiribati, and Solomon Islands;Development of a new compact or threshold programs using MCC’s data-driven, evidence-based methodology where MCC can have optimal effectiveness, with guidance from the MCC Board (as soon as December 2021); andMCC’s continued evidence-based and rigorous approach to develop projects, assess their impacts, and communicate our results broadly across various communications tools, including publishing MCC Evaluation Briefs and Star Reports.

MCC’s operations are guided by its founding principles that remain as relevant today as at the time of the agency’s inception 17 years ago.

These principles are centered on a competitive selection process that reflect American values and the conditions for economic growth; with a commitment to data, accountability, and evidence-based decisions that invest in reforms and an enabling environment that spurs private investment.

MCC is aligned with the priorities of the Biden-Harris Administration. The agency has ambitious plans to build on its model to advance and accelerate work on climate, inclusion and gender, and catalyzing the private sector, striking at the constraints that hold back countries from growing their economies.

MCC’s work to fight poverty in partner countries creates a more stable, secure world with greater prosperity for both the United States and our allies.

Latest stories

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once