MCC celebrates 20 years of effective international development

WASHINGTON (January 22, 2024) —The Millennium Challenge Corporation (MCC) is celebrating the 20th anniversary of its innovative international development model, and the poverty-reducing benefits the agency has delivered to millions of people worldwide.

The MCC Mongolia Water Compact represents a $462 million investment in the country’s water sector.  In 2018, the Government of Mongolia and the U.S Government, through the Millennium Challenge Corporation (MCC), signed a Compact agreement to address a projected water shortage in the capital city, Ulaanbaatar, due to climate change and population growth. The Water Compact is comprised of investment that will introduce new technologies and water resources through the construction of wells, an advanced water purification plant, and water recycling plant, and support the long –term sustainability of Ulaanbaatar’s water supply through policy reforms, capacity building, and technical assistance. By the Compact end in 2026, the investment is expected to help increase the water availability in the capital by eighty percent.  

In 2004, President George W. Bush launched the Millennium Challenge Corporation (MCC), a U.S. Government development agency employing innovative, cost-effective, and data-driven methods to address global poverty. MCC partners with countries committed to just and democratic governance, economic freedom, and investing in their populations.

Over the past 20 years, MCC has invested in nearly $17 billion in aid to 47 low-income and lower-middle-income countries across six continents, with programs lifting more than 300 million people out of poverty.

By U. S. Embassy Ulaanbaatar | 23 January, 2024 | Topics: News, Press Releases