For Immediate Release
Office of the Press Secretary
May 6, 2004
Statement by the Press Secretary
President Congratulates Countries Selected for the Millennium Challenge
Account
Today, the Board of the Millennium Challenge Corporation (MCC) selected
the first round of Millennium Challenge Account (MCA) countries. The
selection marks an historic moment in how the United States and the
world delivers development assistance to the world's poorest
countries.
The countries chosen were Armenia, Benin, Bolivia, Cape Verde,
Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia,
Mozambique, Nicaragua, Senegal, Sri Lanka, Vanuatu.
These countries have met the high standard of this groundbreaking
program by governing justly, investing in their people, and promoting
economic freedom. The President congratulates them on their selection
and looks forward to a genuine partnership between them and the MCC as
they prepare their country proposals. Congress has provided $1 billion
in 2004 to fund the MCA, and the Administration looks forward to
working with Congress to fund our 2005 request of $2.5 billion for the
MCA, and to reach our annual funding goal of $5 billion in 2006.
Background
The MCA is a new approach to development assistance, which focuses
on increasing economic growth in the world's poorest countries by
reinforcing sound policies, good governance, and the rule of law
through development programs designed by countries that have
demonstrated the commitment to govern justly, promote economic freedom
and invest in their people. The President announced the MCA initiative
in March 2002, just prior to attending the Financing for Development
Conference in Monterrey, Mexico, where this approach was welcomed by
fifty heads of state and 200 ministers in the Monterrey Consensus.
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