MCC Completes Vanuatu Compact

The Millennium Challenge Corp. announced Friday (April 29) that it had successfully completed its compact with Vanuatu.

The five-year, $65.69 million grant agreement was signed in March 2006. It funded the rehabilitation of Vanuatu’s two main national roads, the Efate Ring Road and the Santo East Coast Road, and strengthened the capacity of the Public Works Department in maintaining and managing the country’s transport infrastructure.

MCC expects its investment to benefit more than 39,000 people and generate income of around $73.8 million during the 20-year life of this investment.

Read more about U.S. development aid.