MCC, Indonesia Ink $600M Compact

    U.S. Secretary of State Hillary Clinton shakes hands with Indonesian Foreign Ministry Director General Retno Marsudi upon her arrival in Bali, Indonesia for the ASEAN and East Asian summits. Photo by: U.S. Department of State

    The Millennium Challenge Corp. has signed a $600 million compact with Indonesia that supports low-carbon economic growth, early childhood nutrition development and the modernization of public service delivery systems.

    The five-year compact was signed at the sidelines of the East Asia Summit in Bali, Indonesia, at an event attended by MCC CEO Daniel Yohannes and U.S. Secretary of State Hillary Clinton.

    The compact emphasizes the following projects:

    • The Green Prosperity Project, which is designed to support low-carbon economic growth through the expansion of renewable energy and improvement of natural resources management.

    • The Community-Based Nutrition to Prevent Stunting Project, which seeks to reduce and prevent low birth weight, malnourishment and childhood stunting.

    • The Procurement Modernization Project, which aims to generate savings for the government by improving its delivery of public services.

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.