Mali’s $460 million compact with a U.S. foreign aid agency ends four months shy of its target completion date.
Following CEO Daniel Yohannes’ recommendations, the Millennium Challenge Corp.’s board of directors announced Friday (May 4) it will terminate its compact with Mali. The decision follows the political and security crises in the country, which Yohannes said represents a “clear departure” from the agency’s principles.
The compact, signed in 2006, included the Bamako Sénou Airport Improvement Project and the Alatona Irrigation Project. It was suspended following the March 21 coup d’état.
The compact was scheduled for completion Sept. 17, 2012. Mali, however, has a chance to reinstate the compact, pending recommendation from the agency’s CEO.
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