USAID Facilitatates Millennium Challenge Account Threshold Funding Program in Partnership With the Millennium Challenge Corporation
WASHINGTON, DC 20523
PRESS OFFICE
http://www.usaid.gov/
Press: (202) 712-4320
Public Information: (202) 712-4810
2004-102
November 10, 2004
Contact: USAID Press Office
WASHINGTON, DC - Today, the U.S. Agency for International Development (USAID) Administrator Andrew S. Natsios announced that Millennium Challenge Corporation's (MCC) Threshold Funding Program, jointly managed by the two agencies, has selected six additional countries for fiscal year 2005. Newly eligible countries include Burkina Faso, Guyana, Malawi, Paraguay, Philippines and Zambia. They join seven countries selected in fiscal year 2004: Albania, East Timor, Kenya, Sao Tome & Principe, Tanzania, Uganda and Yemen.
"The Millennium Challenge Corporation is a bold initiative that complements the mission of USAID," Administrator Natsios said. "The Threshold Program will allow USAID to offer its technical and programming experience to help those developing countries who are close to qualifying for Millennium Challenge Account eligibility. USAID will continue to fight the scourge of poverty by stimulating economic growth, promoting democracy and investing in people. We look forward to a long-standing partnership with the Millennium Challenge Corporation."
Threshold countries are countries that do not qualify for Millennium Challenge Account assistance, but have demonstrated a commitment to meeting the eligibility requirements for MCA assistance in the future. These countries are invited to submit proposals for improving their performance on the MCC selection indicators, which focus on ruling justly, economic freedom, investments in the people, with a special requirement for controlling corruption.
USAID and the MCC will assess the proposals based on the political commitment of each country to undertake policy reforms. The MCC will decide funding levels for approved programs. Although the Threshold Program is designed as a way to help countries work toward Millennium Challenge Account eligibility, simply participating in this program will not guarantee that they will quality for MCA selection.
The MCC is a U.S. government corporation designed to work with some of the poorest countries in the world and is based on the principle that aid is most effective when it reinforces sound political, economic and social policies that promote poverty reduction through economic growth.
The U.S. Agency for International Development has provided economic and humanitarian assistance worldwide for more than 40 years.
Back to Top ^
|
