Regional News
This is a re-posted press release.
Washington, D.C.—On November 18, the U.S. Government’s Millennium Challenge Corporation (MCC) signed a five-year, $600 million compact with the Government of Indonesia to reduce poverty through economic growth. Secretary of State Hillary Rodham Clinton and MCC Chief Executive Officer Daniel Yohannes participated in the signing ceremony, which took place on the sidelines of the East Asia Summit in Bali, Indonesia.
The United States and Indonesia, the world’s second and third most populous democracies respectively, share a comprehensive partnership that reflects shared values and common interests. MCC CEO Daniel Yohannes said, “The MCC-Indonesia partnership embodies the principles of development effectiveness, where our focus is on delivering lasting results that will have a meaningful impact for the people of Indonesia.
“Our success in realizing the compact’s benefits will depend upon our mutual commitment to accountability and transparency and our willingness to work diligently to implement the compact on time and on budget.”
Results-focused investments to spur economic growth are indispensable to sustainable poverty reduction. In keeping with MCC’s commitment to country ownership, the compact’s programs were designed and will be implemented by the people of Indonesia. As a core part of every compact partnership, MCC expects partner countries to maintain and demonstrate a commitment to good policy performance, democracy, and the rule of law.
The compact will focus on three projects to achieve economic growth:
- The Green Prosperity Project is designed to support low-carbon economic growth by expanding renewable energy and improving the management of natural resources.
- The Community-Based Nutrition to Prevent Stunting Project is designed to reduce and prevent low birth weight, childhood stunting and malnourishment.
- The Procurement Modernization Project is designed to achieve significant savings in government procurements and improve the delivery of public services.
MCC’s compact with Indonesia is proof of a mutual commitment to improving the quality of life of the poorest Indonesians and putting them on a path toward greater prosperity and opportunity.
Visit www.mcc.gov to learn more about the compact, download the fact sheet, and read Daniel Yohannes’ signing ceremony remarks.
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The Millennium Challenge Corporation (MCC) is an innovative and independent U.S. foreign aid agency that is helping lead the fight against global poverty. Created by the U.S. Congress in January 2004 with strong bipartisan support, MCC is changing the conversation on how best to deliver smart U.S. foreign assistance by focusing on good policies, country ownership and results.
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Source: Millennium Challenge Corporation, Nov. 19, 2011
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