FOR IMMEDIATE RELEASE
DECEMBER 20, 2012
Sierra Leone Wins US Government’s MCC Compact Award
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 Koroma’s Government’s record of good governance, economic freedom and investments in people. To be eligible for this award a country must pass at least half of the twenty indicators being assessed (Sierra Leone passed twelve), and must also pass the ‘control of corruption’ indicator and either the ‘Civil Liberties’ or ‘Political Rights’ 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 the citizenry and in accordance with priorities stated in the country’s Agenda for Prosperity. A National Millennium Challenge Account (MCA) will be set up as an accountable entity to manage and oversee all aspects of implementation.