Readout from MCC Board of Directors September 2018 Quarterly Meeting
For Immediate Release
September 14, 2018
WASHINGTON, D.C., September 14, 2018 – At its quarterly meeting on September 13, the Millennium Challenge Corporation’s (MCC) Board of Directors received an update on the agency’s investment portfolio by MCC Acting Chief Executive Officer Brock Bierman. The Board also received presentations on progress toward the proposed MCC Senegal and Sri Lanka Compacts.
At the meeting, the Board approved MCC’s Selection Criteria and Methodology Report (SCMR) for Fiscal Year 2019. The Selection Criteria and Methodology Report is a statutorily required report produced each year on MCC’s process for selecting countries for compact or threshold program assistance. The report outlines the criteria the Board applies to the consideration of countries for potential selection for MCC assistance as well as the methodology used to evaluate each country’s performance against those criteria.
MCC’s SCMR is consistent with last year’s report with the addition of language on the agency’s new authority to make regional, concurrent investments and guidance provided to MCC in the AGOA and MCA Modernization Act, which was signed by President Trump in April 2018. The AGOA and MCA Modernization Act enables MCC to make cross-border, concurrent investments to promote economic growth, maximize poverty reduction, and facilitate trade and investment. The new authority enables MCC to use its model to better strategic advantage as a tool for the U.S. to increase stability and security around the world, while creating opportunities for the private sector. View the Selection Criteria and Methodology Report for Fiscal Year 2019 on MCC’s website.
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The Millennium Challenge Corporation is an independent U.S. government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to low-income countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. Learn more about MCC at www.mcc.gov.