MCC Reveals 2011 Aid-Eligible Countries, OKs Malawi Compact

U.S. President Barack Obama meets with Malawian President Bingu Wa Mutharika during the Millennium Development Goals summit at the United Nations headquarters in New York on Sept. 23, 2010. The U.S. Millennium Challenge Corp. has approved a 350.7 million compact with Malawi. Photo by: Eskinder Debebe / United Nations

Ghana and Georgia are qualified for second compacts, while Malawi is due to receive USD350.7 million over five years from the Millennium Challenge Corp. 

The decisions came during a meeting of MCC’s board of directors on Jan. 5.

Ghana and Georgia’s second compacts, according to an MCC news release, “are contingent on successful completion of first compacts, continued good policy performance, development of proposals that have significant potential to promote economic growth and reduce poverty, and availability of funding.” 

The agency’s board has also allowed Cape Verde, Indonesia and Zambia to continue developing compacts in fiscal 2011.

Meantime, Malawi’s USD350.7 million compact includes USD283 million for upgrading the country’s energy infrastructure and increasing the efficiency of hydropower generation. The remaining USD25.7 million will be used to improve the capacity of national institutions such as the Electricity Supply Corporation of Malawi, Malawi Energy Regulatory Authority and Ministry of Natural Resources Energy and the Environment.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.