Millennium Challenge Corporation:
Summary Fact Sheets for 17 Compacts
GAO-10-797R, Jul 14, 2010
- Accessible Text:
The Millennium Challenge Corporation (MCC), now in its seventh year of operations, is to provide aid to developing countries that have demonstrated a commitment to ruling justly, encouraging economic freedom, and investing in people. MCC provides assistance to eligible countries through multiyear compact agreements to fund specific programs targeted at reducing poverty and stimulating economic growth. MCC has received appropriations for fiscal years 2004 through 2010 totaling about $9.5 billion and has set aside about $8.1 billion of this amount for compact assistance. As of June 2010, MCC had signed compacts with 20 countries totaling approximately $7.1 billion; of the 20 compacts, 18 compacts had entered into force, obligating a total of approximately $6.3 billion. The President has requested approximately $1.3 billion in additional funds for MCC for fiscal year 2011, of which MCC plans to use about $1.1 billion for compact assistance to countries currently eligible for compacts.
For for 17 of the MCC compacts that had entered into force as of December 2009, this document provides (1) general country characteristics and location, (2) timeline of key compact events as of June 2010, (3) per capita income relative to MCC income criteria, (4) performance on MCC's eligibility indicators, (5) compact characteristics and structure, (6) compact funding and project allocations as of December 2009, and (7) planned and actual compact fund disbursements through December 2009.