MFAN’s recent event took a close look at the Millennium Challenge Corporation (MCC) and how its principles and operational model are aligning with the President’s Policy on Global Development and overall efforts to improve aid effectiveness. ONE’s Marissa Glauberman wrote about our event on their blog and addressed some of the additional opportunities and challenges facing the MCC today. Read the full post here and see below for an excerpt:
There is living proof that MCC’s development programs both reduce poverty abroad and create opportunities for American companies. In 2008, the MCC signed a $698 million compact with Tanzania that granted two American companies, Symbion Power and Pike Electric with the ability to build more than 20 power substations and install 1,000 miles of power lines in Tanzania. These roads have stimulated economic growth by improving transportation networks that connect communities with markets, schools and health care.
As the three speakers made clear, the MCC has had setbacks and challenges on their journey to discovering the most effective sustainable development methods. They have shared this lessons in a new report, “Ten Lessons: What MCC has learned putting its ‘focus on results’ principle into practice.”