INTRODUCTION
The Millennium Challenge Corporation (MCC) is a Federal Corporation created under Title VI of the Foreign Operation, Export Financing, and related Programs Appropriations Act, 2004. MCC is based on the principle that aid is most effective in countries that promote good governance, economic freedom, and investments in people. MCC provides large grants to a small number of eligible developing countries.
MCC's overriding objectives are to promote economic growth and reduction of poverty in our partner countries. MCC does not take for granted that programs will stimulate economic growth and will reduce poverty. MCC looks at likely distributive effects of projects and, to the extent that data are available to perform such analyses, identifies their beneficiaries and estimates their impact on poverty reduction. Ultimately, MCC seeks significant and measurable decreases in the numbers of poor people and significant reductions of poverty. In addition, MCC projects are implemented within a Compact period of five years. Further details on the MCC and its methodology may be viewed at http://www.mcc.gov. In particular, details of MCC's compact development process can be found at http://www.mcc.gov/pages/countrytools/tools/compact-development.