Millennium Challenge Corporation : Progress Made on Key Challenges in First Year of Operations

In Jan. 2004, Congress estab. the Millennium Challenge Corp. (MCC) to administer the Millennium Challenge Account. MCC's mission is to promote econ. growth & reduce extreme poverty in developing countries. MCC must rely on quantitative criteria in determining countries' eligibility for assistance. MCC will provide assistance primarily through compacts -- agree. with country gov'ts. MCC aims to be one of the top donors in countries with which it signs compacts. For FY 2004 & 2005, MCC received $2.5 billion; for FY 2006, $3 billion. This report monitors MCC's: (1) process for determining country eligibility, (2) progress in developing compacts, (3) coord. with key stakeholders, & (4) estab. of mgmt. structures & accountability mechanisms. Illus.Gootnick, David B. is the author of 'Millennium Challenge Corporation : Progress Made on Key Challenges in First Year of Operations', published 2005 under ISBN 9781422300947 and ISBN 1422300943.