THE MILLENNIUM CHALLENGE Corporation is an independent U.S. government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.
THE MILLENNIUM CHALLENGE Corporation’s (MCC) Board of Directors has selected Liberia as newly eligible to develop a compact during its quarterly meeting on December 18, 2024. Liberia was selected in recognition of the progress the country has made to strengthen its performance on the MCC scorecard and the country’s commitment to pursuing critical economic and democratic governance reforms. The Board also discussed the new opportunities that the Millennium Challenge Corporation Candidate Country Reform Act provides for MCC.
“MCC IS PROUD of our longstanding history with Liberia and is enthusiastic about embarking on a new partnership to advance opportunities for the people of Liberia,” said MCC’s Chief Executive Officer Alice Albright. Liberia is expected to benefit from up to US$500 million in a five-year period.
PRESIDENT JOSEPH BOAKAI announced the milestone achievement for Liberia on Wednesday evening, revealing that the country had secured a second compact from the Millennium Challenge Corporation (MCC).
IN A LIVE address delivered from the grounds of the Executive Mansion in Monrovia, President Boakai celebrated the news as a testament to Liberia’s progress in governance and reform. “According to the MCC, Liberia has qualified for a second compact due to our outstanding performance in governance and reform,” he said. “This giant achievement will unlock resources for our development agenda and help address the binding constraints to growth in our country.”
PRESIDENT BOAKAI LAUDED the collective efforts of Liberians, emphasizing the significance of the achievement for the nation. “This is not just a victory for the government but for all Liberians. It reflects the international community’s confidence in our ability to deliver progress through unity and reform,” he said. “Let us join hands to celebrate this collective success.”
HIS REMARKS SPARKED widespread celebrations across the country, with Liberians expressing hope that the compact, alongside key foreign direct investments, would provide a much-needed boost to public infrastructure and economic opportunities.