Millennium Challenge Corporation
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Millennium Challenge Corporation (MCC) is an innovative U.S. foreign aid agency that focuses on promoting economic growth in partner countries through the provision of large-scale grants contingent on good governance and economic reforms.
Mission
The mission of the Millennium Challenge Corporation is to combat global poverty through sustained economic growth, primarily by providing grants to countries that demonstrate a commitment to good governance, economic freedom, and investments in their people. MCC's approach is rooted in fostering economic policies that lead to long-term development benefits.
Parent organization
MCC operates as an independent agency under the U.S. government, reporting directly to Congress and the President.
Legislation
MCC was established by the Millennium Challenge Act of 2003, which aimed to create a new model for foreign aid based on performance and accountability.
Partners
MCC collaborates with:
- U.S. Agency for International Development (USAID)
- Host country governments
- International organizations and local NGOs.
Number of employees
MCC employs approximately 320 individuals.
Organization structure
- Compact Development Team manages the process of creating and implementing country-specific compacts.
- Department of Policy and Evaluation assesses impact and advises on policy.
- Department of Administration and Finance handles internal operations and grant management.
List of programs
- Compact Development - Long-term partnerships with selected countries
- Threshold Program - Pre-compact assistance for policy reform
- MCC Scorecard - Evaluates countries based on performance indicators - https://www.mcc.gov/who-we-select/scorecard
Last total enacted budget
The last total enacted budget for MCC was approximately $900 million for the 2024 Fiscal Year.
Leader
The organization is led by a Chief Executive Officer.
Services provided
MCC provides large-scale grants to countries that meet eligibility criteria in governance and economic policy. These grants fund projects in sectors like agriculture, education, infrastructure, and health, aimed at reducing poverty and stimulating economic growth. MCC also works on capacity building and policy reform to ensure sustainable outcomes.
Regulations overseen
MCC does not oversee regulations but operates under its own operational guidelines and the legislative framework provided by the Millennium Challenge Act, ensuring transparency and accountability in grant management.
Headquarters address
1099 14th Street NW, Suite 700, Washington, DC 20005, USA
History
Founded in 2004, the Millennium Challenge Corporation was created to implement a new approach to U.S. foreign assistance, emphasizing results, accountability, and country ownership of development projects. Since its inception, MCC has awarded compacts to numerous countries, with a focus on achieving measurable economic outcomes and fostering democratic governance.