Board satisfied with country’s policy performance

The Gambia has been reselected by the Board of the Millennium Challenge Corporation to continue its compact development. The selection for 2024 was based on an assessment of the country’s policy performance since their prior selection and their progress in developing programs with MCC. The country scorecards consolidate an individual country’s scores for each of the policy indicators MCC uses to determine eligibility for its assistance programs. By using information collected from independent, third-party sources, MCC allows for an objective comparison of all candidate countries.

In the 2024 fiscal year report released by the MCC, Gambia’s performance exceeded expectations by passing 14 of the 20 indicators. These 14 indicators encompassed various aspects, including fiscal policy, inflation, political rights, civil liberties, control of corruption, trade policy, rule of law, freedom of information, gender in the economy, land rights and access, health expenditures, access to credit, employment opportunities, and immunization rates.

The board which held its quarterly meeting on December 13 chose Cape Verde, Tanzania, and the Philippines as beneficiaries of the new compact. MCC’s scorecards play an important role in the competitive selection process to determine which countries are eligible to establish a five-year grant agreement known as a compact.

As part of its annual discussion on country selection, MCC’s Board also reviewed the policy performance of previously selected eligible countries. In doing so, MCC’s Board reselected Côte d’Ivoire and Senegal to continue regional compact development; Togo, and Zambia to continue compact development; and Mauritania to continue developing a threshold program. The Board reaffirmed its support for continuing compact development in Belize. In addition, the Board reselected Sierra Leone as eligible to continue developing a compact in recognition of the progress made to advance the national dialogue process, begin implementation of the Agreement for National Unity, and establish the national election review committee. These actions constitute a critical beginning of an inclusive process to strengthen Sierra Leone’s democratic and electoral institutions following the June 2023 elections. In making its re-selection decision, the Board noted its expectation of continued progress toward meaningful electoral reform, as outlined in the Agreement for National Unity, prior to considering approval of the proposed compact.

MCC’s Board, chaired by the Secretary of State, Anthony Blinken, evaluates candidate countries for compact eligibility based on three statutorily mandated factors: policy performance, the potential to reduce poverty and stimulate economic growth, and the availability of MCC funds.

“The Board’s selection of Cape Verde, the Philippines, and Tanzania advances MCC’s mission to forge strong partnerships with countries that have demonstrated a commitment to democratic governance, investing in their people, and economic freedom,” said MCC’s Chief Executive Officer Alice Albright. “We look forward to building on prior partnerships and working hand in hand with each country to advance prosperity for their people.”

MCC’s Board selected former compact partner Cabo Verde as eligible to develop a regional compact in recognition of the country’s clear commitment to democratic governance and its significant development and poverty reduction challenges. With this new partnership, MCC will support Cabo Verde in generating economic growth through deeper integration with the West Africa region.

Source: MCC

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