WASHINGTON (Oct. 19, 2022) — The Millennium Challenge Corporation (MCC) hosted the inaugural meeting for its new Advisory Council cohort today, discussing the ongoing operational-level work in MCC’s country portfolio as well as the opportunities for U.S. private-sector investors through its partnerships.
MCC’s Advisory Council is an interdisciplinary group of advisors representing the U.S. business community, advocacy organizations, non-profit organizations, foundations, including a wide array of sectors such as infrastructure, information and communications technology (ICT), finance, environment, and sustainable development.
The agency’s Deputy Chief Executive Officer Mahmoud Bah welcomed the new council and discussed the agency’s vision for its next 20 years as it approaches its 20th anniversary — known as MCC@20. Council members also received updates on the agency’s two operational portfolios: the Africa portfolio and the Europe, Asia, Pacific, and Latin America portfolio. MCC currently has 14 grant programs in operation and eight in development, totaling more than 4 billion in investments.
During the meeting, Council members offered insights on innovations in infrastructure, technology, and sustainability; perceived risks and opportunities in MCC partner countries; and new financing mechanisms for developing country contexts — all of which help MCC remain at the cutting edge of international development.
MCC’s Advisory Council consists of up to twenty-five (25) leaders and experts. Members are appointed in two-year terms and may serve a maximum of two terms.
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 countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.