A Message From Secretary of State Antony Blinken, Chair of the MCC Board of Directors
As the Chair of the Board of Directors for the Millennium Challenge Corporation (MCC), I am proud of the leadership and vision of CEO Alice Albright and the dedication of her MCC team in bringing about a better, stronger future. MCC is a leading force in the world for creating opportunity, poverty reduction, and economic growth. MCC’s investments in critical sectors like energy, water, transportation, and agriculture are part of a holistic approach to promote sustainable growth in partner countries. To date, MCC has provided nearly $17 billion through 46 compacts and 32 threshold programs in 47 countries, benefiting over 380 million people worldwide. On a local level, the MCC team helps entrepreneurs start small businesses, empowers family farmers, improves girls’ education and health, creates reliable and efficient energy grids, and builds roads and bridges.
I am grateful for the deep partnership we have built between MCC and the State Department. Together, we engage partner countries and the private sector to create the foundations for strong, stable, and prosperous communities. MCC’s grant funding pairs infrastructure investments with policy and institutional reforms in countries that meet rigorous standards for good governance. The MCC model offers our partners a debt-free alternative to other financing that is not always based on long-term economic viability and transparency.
Collaboration between the State Department and MCC also enhances the effectiveness of U.S. foreign assistance to maximize the impact of taxpayer funding to meet the development goals of today. Our work together is a critical component of the U.S. commitment to the Global South and our efforts to solve the shared challenges of food security, global health threats, climate change, and economic stability. Our partnership demonstrates the power and potential of American leadership to bring about change that benefits the American public and people around the world.
A Message From Chief Executive Officer Alice Albright
As I approach the end of my second year as Chief Executive Officer, I reflect on how honored I am to lead MCC as we continue growing partnerships aimed at reducing poverty through sustainable and inclusive economic growth. This report captures the progress made across MCC’s portfolio throughout FY 2023, including advancing programs in 22 partner countries throughout Europe, Latin America, Africa, and Asia, and moving strategic and operational priorities forward to rejuvenate the agency as it marks its 20th anniversary in 2024. MCC’s innovative model sets a high standard for effective development assistance and stewardship of taxpayer resources. By highlighting the principles of inclusiveness, accountability, transparency and innovation, we also encourage partners to drive success and promote shared democratic values.
In total, the agency signed agreements granting over $1.7 billion in assistance in FY 2023. MCC signed compacts with Indonesia ($649 million) and Mozambique ($500 million), and the agency’s first concurrent regional compacts in Benin and Niger ($504 million). Additionally, MCC signed threshold program agreements with Kiribati ($29 million) and Kenya ($60 million). These new program signings are the result of countless hours of hard work and are a strong reflection of what MCC’s teams can accomplish working hand in hand with our partner countries. MCC is an effective development tool, executing nearly $17 billion in grants helping to lift over 380 million people out of poverty.
As Chief Executive Officer, I am proud of how MCC continues to deliver for the American public and for the people in countries with which we partner. As we mark our 20th anniversary, MCC is well positioned to continue to play a meaningful role in the U.S. efforts to address global poverty and strengthen democratic governance.
Board of Directors: FY 2023
The Millennium Challenge Act provides that the MCC Board of Directors (the “Board”) shall consist of five government officials and four individuals from the private sector who are appointed by the president with the advice and consent of the Senate. For FY 2023, however, only one of the private sector members was appointed. The Board meets quarterly.
Antony J. Blinken, Chair Secretary of State
Janet Yellen, Vice Chair Secretary of the Treasury
Katherine Tai U.S. Trade Representative
Samantha Power Administrator, U.S. Agency for International Development
Alice Albright MCC Chief Executive Officer
Alexander (Ander) Crenshaw Former U.S. Representative