Last year, the Millennium Challenge Corporation marked 20 years of operation. Since its establishment, the agency has worked in 48 countries, investing nearly $17 billion in projects aimed at reducing extreme poverty through economic growth.
MCC primarily funds projects through compacts. These are large, five-year agreements that place responsibilities on the recipient countries in exchange for funding.
The agency also awards threshold programs, which are smaller grants for countries that are yet to become eligible for compacts.