- The US’s Millennium Challenge Corporation (MCC) Board of Directors has reviewed the progress of its partnerships with countries to reduce poverty, and agreed to select Cape Verde as eligible to develop a proposal for a second compact grant.
“I was proud to participate in my first MCC Board meeting today with Secretary Clinton and the other distinguished directors. We took the opportunity to review the status of MCC’s compacts, review the policy performance of our partner countries, and reaffirm the US Government’s commitment to finding lasting and innovative solutions to global poverty,” said MCC new CEO Daniel W. Yohannes.
“Cape Verde is the first MCC partner country to be selected as eligible for a second compact,” Mr Yohannes said. “Cape Verde illustrates many of the characteristics of a strong partner and has consistently displayed good economic and political governance. We look forward to building on the successes of Cape Verde’s current efforts to combat poverty,” he added.
This is the first year that the MCC Board considered countries for possible eligibility for second compacts. Eligibility for a second compact is not automatic. For those countries selected, a second compact will allow for deeper investment in poverty reduction and economic growth, which is consistent with MCC’s mission. Countries must meet a higher hurdle to achieve second compact eligibility because MCC takes into account not only a country’s policy performance as measured by MCC’s indicators, but also effectiveness of implementation on its first compact as well as results achieved to date.
The Board also agreed that Jordan, Malawi, the Philippines, Indonesia, and Zambia are eligible to continue the process of developing compacts in fiscal year 2010. Since its inception in 2004, MCC has approved compacts totalling over $7 billion with 19 partner countries.
“MCC embraces President Obama’s commitment to fighting global poverty. We continue to work with Members of Congress to seek sufficient resources for MCC to fulfil our long-term economic development partnerships with some of the poorest countries in the world,” said Mr Yohannes.
The MCC Board also voted to suspend MCC’s $23 million threshold programme with Niger. The Board reviewed the recent actions by the Government of Niger, which constitute a significant policy reversal from the time the country was selected for an MCC grant, and took the action in accordance with MCC’s Policy on Suspension and Termination. MCC will proceed with an orderly wind-down of the threshold programme, which has focused on control of corruption, streamlining the process to start a business and land access procedures, and girls’ education.
“MCC makes this suspension decision with deep disappointment,” said Mr Yohannes. “The girls’ schools project had tremendous potential to promote girls’ education and create opportunities in Niger. MCC would have liked to continue the program had circumstances in Niger permitted us to move ahead,” he said.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
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