Compact Signing Ceremony with the Philippines

On Sept. 23, 2010, MCC Chief Executive Officer Daniel Yohannes and Philippine Secretary of Finance Cesar Purisima signed a five-year economic development compact granting $434 million to the Philippines for investments in roads, community development projects, and improvements to the country’s Bureau of Internal Revenue.  U.S. Secretary of State Hillary Rodham Clinton and President of the Philippines Benigno Aquino III presided at the signing held at the Waldorf Astoria Hotel in New York City.