2006 Press Releases
Millennium Challenge Corporation
For Immediate Release
November 8, 2006
Millennium Challenge Corporation Board of Directors Announces 2007 Threshold Countries Niger; Peru; and Rwanda
Washington, DC - The Board of Directors of the Millennium Challenge Corporation (MCC) today selected three new countries to participate in the Threshold program for 2007. The new countries, Niger, Peru, and Rwanda, join 17 countries chosen during previous MCC Threshold program selection rounds in 2004-2006.
MCC's Threshold Program is designed to assist countries on the "threshold" of Millennium Challenge Account (MCA) eligibility for Compact assistance. Threshold countries must demonstrate a commitment to reforms that will address the specific policy weaknesses identified by the MCA eligibility criteria.
MCC measures a government's commitment to sound development policies using 16 independently measured and transparent benchmarks known as indicators, which have a demonstrated link to poverty reduction and economic growth. These indicators measure commitment to policies that promote, among other things, political and economic freedom, investments in education and health care, control of corruption, respect for civil liberties, and the rule of law. MCC is using two supplemental indicators this year to evaluate countries' commitment to sustainable natural resource management.
MCC's Board selected Niger as a Threshold country because of its commitment to reform. According to Ken Hackett, an MCC Board Member and President of Catholic Relief Services, MCC is ready to support ongoing efforts to tackle corruption, increase girls' access to primary education, and promote economic freedom. Investments in girls' education can have a significant impact on Niger's development and can result in decreases in child and maternal mortality, increases in labor productivity, higher wages, increases in agricultural yields and an acceleration of economic growth.
Since its establishment in 2004, MCC has approved nearly $286 million under the Threshold program for 11 countries: Albania; Burkina Faso; Indonesia; Jordan; Malawi; Moldova; Paraguay; Philippines; Tanzania; Ukraine; and Zambia.
To date, MCC has also approved Compacts totaling nearly $3 billion with 11 countries: Armenia; Benin; Cape Verde; El Salvador; Georgia; Ghana; Honduras; Madagascar; Mali; Nicaragua; and Vanuatu. MCC is also actively engaging with other eligible countries to assist them in Compact development.