U.S. Congress Approves Over $1 Billion FY2010 Budget for MCC
Saturday, 20 Dec, 2009
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Jordan is one of the latest MCC projects
Tourism development components will be included for many nations.
The U.S. Senate has passed the FY2010 Omnibus Appropriations Bill, which includes a $1.105 billion budget for Millennium Challenge Corporation (MCC)’s work to reduce poverty through economic growth. The FY10 budget number represents a 26 percent increase over MCC’s budget in FY2009, signifying Congress’ strong support of MCC’s mission to work with some of the poorest countries to find sustainable solutions to global poverty.
MCC currently has projects in 39 countries many of which have tourism components. For example Namibia has obtained grant funding from MCC of over US$300m of which US$60m is dedicated to tourism see www.travelmole.com/stories/1139695.php
“MCC is expanding opportunities for the world’s poor. With the strong support and dedication to reduce poverty from members of Congress, together we will build on our progress,” said Mr. Daniel Yohannes, MCC Chief Executive Officer, who was recently confirmed by the U.S. Senate in November.
“MCC is prepared to become an even more effective tool of U.S. global engagement in the fight against global poverty. We will work to show more results, be more innovative, and find more ways to involve and encourage the private sector. I know Congress will be a tremendous partner as we strive to fulfill our great potential.”
The MCC Board of Directors recently approved Jordan, Malawi, the Philippines, Indonesia, and Zambia as eligible to continue the process of developing compacts in fiscal year 2010. MCC will sign a $262 million compact with Moldova in early 2010.
MCC programs are designed to maximize sustainable poverty reduction by fostering broad-based economic growth. Grants, or compacts, are provided to countries striving to practice sound political, economic, and social policies. Solutions must be homegrown by the countries themselves, so they “own” them from design through implementation. MCC works with a wide array of stakeholders within each partner country to ensure that projects reflect the priorities of a country’s citizens and take into account the role of gender and the impact on the environment. Projects are designed to measure results, reach benchmarks, and achieve lasting outcomes.
MCC has funded compact programs in 19 countries and has funded 21 threshold programs to date. Countries are using their Millennium Challenge grants to train farmers, register property rights, build roads and bridges to better access markets, immunize children, open schools, irrigate land, operate tourism and install water and sanitation systems.
Millennium Challenge Corporation (MCC), a United States Government agency designed to work with developing countries, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and help eliminate extreme poverty. For more information about MCC, visit www.mcc.gov.
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Get a copy of the postCOP15 Tourism Carbon Guide, Sustainable Tourism Report and Marketing Guide. See: www.travelmole.com/stories/1139697.php
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