Search Results for agency_names:"Millennium Challenge Corporation"

Found 5 results

Search Results: agency_names:"Millennium Challenge Corporation"

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  • 2024-31066 — Notice of First Amendment to Compact With the Federal Democratic Republic of Nepal
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    Type:Notice
    Citation:90 FR 117
    Reading Time:about 6 minutes

    The Millennium Challenge Corporation (MCC) has proposed an amendment to its existing agreement with Nepal to provide an additional $50 million. This funding aims to address increased costs and continue the Electricity Transmission Project, which is part of a larger plan to boost electricity use and reliability in Nepal. The amendment results from past delays and cost escalations due to global inflation and procurement challenges. This additional funding is expected to help the project meet its goals without further delays while maintaining high economic returns.

    Simple Explanation

    The United States is planning to give Nepal $50 million more for a big electricity project because things got more expensive than expected. This extra money will help finish building important electric lines in Nepal without more delays.

  • 2025-01877 — Notice of First Amendment To Compact With the Federal Democratic Republic of Nepal; Correction
    Type:Notice
    Citation:90 FR 8405
    Reading Time:less than a minute

    The Millennium Challenge Corporation (MCC) issued a correction notice regarding a previously published entry in the Federal Register from January 2, 2025. This correction addresses an incorrect table that was part of their initial notice. The table in question, found in Annex I, Exhibit A to Annex II, has now been replaced with the accurate version in the updated publication. The correction ensures the accuracy of the Multi-Year Financial Plan Summary as it originally appeared in the document.

    Simple Explanation

    The Millennium Challenge Corporation made a mistake when they shared a table in a public notice about a project with Nepal, and now they are fixing it by replacing the wrong table with the correct one so everything is accurate.

  • 2021-03504 — Amendment to the MCC Economic Advisory Council Charter and Call for Nominations
    Type:Notice
    Citation:86 FR 10599
    Reading Time:about 3 minutes

    The Millennium Challenge Corporation (MCC) has updated the charter of the MCC Economic Advisory Council to increase its membership from 20 to 25 people. They are looking for nominees to join the council for the 2020-2022 term, with the deadline for nominations being March 7, 2021. The council, made up of various experts, will provide advice to MCC in areas of economic development and policy. All selected members will provide independent advice and will not receive compensation for their service.

    Simple Explanation

    The MCC needs some really smart people to give advice about how to help countries get better at making money and growing. They want to add 5 more people to a group of helpers, but you don't get paid for it, and they want to know why you'd be good for it in just two pages.

  • 2025-00899 — Report on the Selection of Eligible Countries for Fiscal Year 2025 (Albania)
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    Type:Notice
    Citation:90 FR 3966
    Reading Time:about 6 minutes

    The Millennium Challenge Corporation (MCC) has named Albania as eligible to receive assistance for fiscal year 2025. This decision allows MCC to enter into a Millennium Challenge Compact with Albania, which aims to reduce poverty through economic growth. Albania was selected based on its satisfactory performance in key policy areas like just governance and economic freedom, as well as its progress in fighting corruption and ongoing development challenges. The selection was part of a reconsideration prompted by the new MCC Candidate Country Reform Act.

    Simple Explanation

    The Millennium Challenge Corporation has chosen Albania to get help for 2025 to make life better and fight poverty by making the economy grow. This choice was made because Albania is doing a good job in areas like fair government and stopping bad behavior.

  • 2024-30925 — Report on the Selection of Eligible Countries for Fiscal Year 2025
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    Type:Notice
    Citation:89 FR 105635
    Reading Time:about 9 minutes

    The Millennium Challenge Corporation (MCC) issued a report identifying countries eligible for economic assistance through compacts for Fiscal Year 2025. Liberia was newly selected, while Cabo Verde, Senegal, and The Gambia were re-selected to continue compact development. The Philippines and Tanzania were chosen to keep developing threshold programs. The criteria for selection included governance and economic performance, with a focus on reducing poverty through economic growth.

    Simple Explanation

    The Millennium Challenge Corporation picked some countries, like Liberia and Senegal, to give them money to help them grow and become better places to live. They chose these countries because they are working hard to have good rules and want to help their people.