WASHINGTON (May 15, 2024) — Today Millennium Challenge Corporation (MCC) Chief Executive Officer (CEO) Alice Albright defended President Biden’s fiscal year 2025 budget request for MCC during her testimony before the Senate Appropriation Committee’s State, Foreign Operations, and Related Programs Subcommittee.
Albright explained that the 2025 budget request for MCC supports the U.S. government’s economic and national security interests. MCC’s development programs in the world’s poorest countries serve as an important counter to malign influence of foreign nations by increasing U.S. government presence, building stronger relationships and trust, and helping provide a clear roadmap for democratic best practices.
“With a robust portfolio, MCC has built a track record of helping democracies deliver for their people, this includes a pipeline of strategic new programs that will be ready for approval by MCC’s Board of Directors in FY25, with your support for MCC and our FY25 budget request of $937 million, the agency is poised to create building blocks for stronger and more vibrant economies around the world, and to foster greater security here at home.”
MCC also seeks a bi-partisan and bi-cameral legislative change that would bring MCC’s resources to bear in 30 additional Latin American, Caribbean, African, Eastern European, Asian, and Pacific Island countries.
The Millennium Challenge Corporation is an independent U.S. government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.