Yohannes: MCC Exploring Concurrent, Longer Compacts

Following his testimony before the U.S. Congress, Millennium Challenge Corp. CEO Daniel W. Yohannes said in his blog that he looks forward to working with lawmakers in finding innovative ways to finance MCC projects such as through concurrent and longer compacts.

Concurrent compacts, he said in his April 14 testimony, will enable MCC to enter into separate agreements with one country depending on the specific timing requisites of each project, instead of the current multi-project packages with a single duration. The proposed longer compacts will involve an extension of two more years to the usual five-year period.

About the author

  • Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.