The board considers the country’s potential to reduce poverty and foster economic growth. MCC has an ongoing portfolio of countries in various stages, including compact development, implementation, threshold programs, and program closure. Additionally, the compact development process also includes rigorous stakeholder engagements, a beneficiary analysis, and an environmental and social analysis of projects. This process can take up to two years, while a country must maintain a passing scorecard during the entire compact development period. In January 2016, the MCC and Liberia initiated a five-year, US$257 million compact aimed at spurring economic growth and poverty reduction in Liberia.

Source: Front Page Africa November 09, 2023 01:56 UTC