<< BackMillennium Challenge Corporation Releases Interim Environmental Guidelines for Public Comment
The Millennium Challenge Corporation (MCC) released its interim environmental guidelines for public comment. The guidelines describe the MCC's environmental review process. The interim guidelines are open to public comment for 90 days beginning March 4, 2005. (click here to download)
The Millennium Challenge
Corporation (MCC) administers the Millennium Challenge Account (MCA). When he
announced the Millennium Challenge Account in March 2002, US President Bush
proposed a new "global development compact" in which "greater
contributions from developed nations must be linked to greater responsibility
from developing nations." In January 2004 Congress approved legislation
providing MCA $1 billion in FY 2004. The President's request for the MCA in
FY 2005 was $2.5 billion, of which Congress appropriated $1.5 billion.
MCC annually assesses country's overall performance in relation to three broad policy categories: Ruling Justly, Encouraging Economic Freedom, and Investing in People. MCC relied on 16 indicators to assess policy performance as the predominant basis for determining which countries would be eligible for assistance through Millennium Challenge Account (MCA). Countries should focus on improving performance on political, economic, and social policies that are fundamental for countries to grow and for citizens to escape from poverty and to lead better lives.
The list of eligible countries for 2005 assistance includes, inter alia, Armenia, Georgia, Mongolia and Morocco. Morocco is the only new country in the list. Other countries were eligible for 2004 assistance as well.
The MCA aimed to achieve economic growth and reduce poverty. Examples of areas that are directly tied to a country's productivity and economic growth include agricultural development, education, enterprise and private sector development, governance, health, and trade capacity building. However, these categories are meant to be illustrative, not exclusive. Because country ownership is a hallmark of the MCA, decisions on specific MCA investments will be made on a country-by-country basis and will fit within each country's overall growth and poverty reduction strategy.
SPDC monitors the process of preparation country's compacts particularly from civil participation perspective and will monitor the implementation of compacts.