State House Press Release: Sierra Leone has won the coveted Millennium Challenge Corporation (MCC) Compact Award worth hundreds of millions of dollars. The Award, announced on December 19, 2012, was given in recognition of President Dr. Ernest Bai Koromaís Governmentís record of good governance, economic freedom and investments in people. To be eligible for this award a country must pass at least half of 20 indicators being assessed (Sierra Leone passed 12), and must pass Ďcontrol of corruptioní indicator and either the ĎCivil Libertiesí or ĎPolitical Rightsí indicators (the country passed all three).¬† A Compact is a multi-year agreement between the United States Government supported Millennium Challenge Corporation and an eligible country to fund specific programs targeted at reducing poverty and stimulating economic growth.¬† The award commences a multi-year partnership dedicated to pursuing economic growth and poverty reduction through the development and implementation of a Compact. Sierra Leone will develop its MCC proposals in broad consultation with citizens and in accordance with priorities stated in the Agenda for Prosperity. A National Millennium Challenge Account (MCA) will be set up as an accountable entity to implement proposals.
|US Ambassador Mike Owen broke the good tidings to H.E. President Koroma yesterday
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Newspaper in Freetown, Sierra Leone.