The Millennium Challenge Corporation is awarding $461 million to El Salvador, making it the agency’s 11th grant recipient. The country joins Madagascar, Honduras, Cape Verde, Nicaragua, Georgia, Benin, Vanuatu, Armenia, Ghana, and Mali in the list of nations with approved compacts. According to MCC chief executive John Danilovich, the corporation made the decision after noting El Salvador’s commitment to sound policies. “MCC applauds President Saca’s leadership and El Salvador’s commitment to good governance and to building the necessary institutional framework for MCC funds to be used effectively,” Danilovich said. The sum will be used to improve infrastructure and increase access to education in the country’s northern region.

Also, the MCC expanded its list of countries that are eligible to receive funding under the Millennium Challenge Account. The new candidates for MCA grants include Moldova, Ukraine and Jordan. These countries, Danilovich maintained, “demonstrate that they are, in fact, taking necessary steps to create, reinforce, and maintain a policy environment in which MCC’s aid can help them reach specific goals of poverty reduction.” Their status, he added, “is the reward for pursuing good policies. These countries are now invited to begin the process of creating their compacts to reduce poverty.”

Source: U.S. fund OKs aid for El Salvador, expands list (Reuters)

About the author

Join the Discussion