WASHINGTON, D.C., December 20, 2017 – At its quarterly meeting on December 19, 2017, the U.S. Government’s Millennium Challenge Corporation (MCC) Board of Directors selected Timor-Leste for an MCC compact– MCC’s five-year grant program designed to spur economic growth and reduce poverty.
“I am pleased to announce new partnerships with Timor-Leste through MCC’s compact program,” said MCC Chief Operating Officer Jonathan Nash. “MCC investments promote economic growth and reduce poverty, creating more stable, secure countries with new business opportunities abroad.”
MCC works to improve lives and transform communities around the world by focusing on one mission: reducing poverty through economic growth. The agency provides time-limited grants and assistance to developing countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights.
Timor-Leste was initially selected by the MCC Board to develop a threshold program in December 2016. Since that time, the Government of Timor-Leste has demonstrated a clear commitment to good governance, investing in its people and economic freedom, as evidenced by Timor Leste’s 2018 MCC scorecard. The Board voted to move Timor-Leste into the compact program based on this continued strong performance.
Find out more about MCC’s selection process on our Who We Fund web page.