By By: Alphanso G. Kalama;
Monrovia, Liberia – The Millennium Challenge Corporation (MCC), a U.S. government agency focused on reducing global poverty through economic growth, has announced Liberia’s selection as newly eligible to develop a compact program. The decision underscores Liberia’s commitment to implementing critical economic and democratic governance reforms.
This milestone marks a significant step in the country’s partnership with MCC, though eligibility does not automatically guarantee the approval of a compact program. The development process will involve close collaboration between MCC, the U.S. Embassy, and the Government of Liberia, with the final program’s size and content determined by analytical work, available funding, and approval from the MCC Board of Directors.
“MCC is proud of our longstanding history with Liberia and is enthusiastic about embarking on a new partnership to advance opportunities for the people of Liberia,” said MCC Chief Executive Officer Alice Albright in a statement.
Since its inception in 2004, MCC has been a global leader in fostering economic growth through time-limited grants that integrate investments in infrastructure with policy and institutional reforms. Partner countries are required to meet rigorous standards for good governance, anti-corruption measures, and the protection of democratic rights.
As Liberia begins the compact development process, the MCC and the U.S. Embassy emphasized the importance of maintaining a commitment to the principles of inclusive democratic governance. This commitment will be pivotal to ensuring the successful formulation and implementation of the program, which aims to deliver transformative development outcomes.
The announcement signals a renewed opportunity for Liberia to leverage MCC’s support to address key developmental challenges, with the ultimate goal of boosting economic growth and improving the livelihoods of its people.
