December 16, 2020
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U.S. Embassy: Millennium Challenge Corporation announces new compact with Sierra Leone
Freetown, SIERRA LEONE — Demonstrating the United States’ commitment to helping lead the fight against global poverty, the Millennium Challenge Corporation’s (MCC) Board of Directors selected Sierra Leone for an MCC compact program – a multimillion dollar grant agreement – on Tuesday, December 15, 2020. The compact program will follow the successful $44 million threshold agreement between MCC and Sierra Leone that is currently improving water and electricity services in the greater Freetown area.
Since MCC’s inception, MCC has invested more than $13 billion in economic growth projects around the globe that are expected to benefit about 190 million people. The US government agency invests in projects that drive growth and help people lift themselves out of poverty, like power, education, clean water, land rights, and roads. Once a country is selected for compact development, the partner country leads a constraints analysis that determines which sectors are limiting economic growth. This analysis is then used by partner countries to design the compact programs and tackle these constraints. The final investment amount will depend on the strength of the projects and their ability to support long-term economic growth in the selected country.
The U.S. government and the Sierra Leone government are committed partners in Sierra Leone’s economic growth. Since 2012, the government of Sierra Leone and MCC have worked closely together to support good governance and reducing poverty through economic growth. MCC looks forward to continued collaboration with the government of Sierra Leone and to launching the compact development process.
In October 2020, Ambassador Brewer joined Sierra Leone in welcoming the visit
of Sean Cairncross, CEO of Millennium Challenge Corporation (MCC).