    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book I)]
    [February 5, 2003]
    [Pages 129-130]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Congress Transmitting Proposed Legislation To Establish
    the Millennium Challenge Account and the Millennium Challenge
    Corporation
    February 5, 2003

    To the Congress of the United States:
        I am pleased to transmit a legislative proposal to establish the
    Millennium Challenge Account and the Millennium Challenge Corporation.
    Also transmitted is a section-by-section analysis.
        The Millennium Challenge Account (MCA) represents a new approach to
    providing and delivering development assistance. This new compact for
    development breaks with the past by tying increased assistance to
    performance and creating new accountability for all nations. This
    proposal implements my commitment to increase current levels of core
    development assistance by 50 percent over the next 3 years, thus
    providing an annual increase of $5 billion by fiscal year 2006. To be
    eligible for this new assistance, countries must demonstrate commitment
    to three standards--ruling justly, investing in their people, and
    encouraging economic freedom. Given this commitment, and the link
    between financial accountability and development success, special
    attention will be given to fighting corruption.
        The goal of the Millennium Challenge Account initiative is to reduce
    poverty by significantly increasing economic growth in recipient
    countries through a variety of targeted investments. The MCA will be
    administered by a new, small Government

    [[Page 130]]

    corporation, called the Millennium Challenge Corporation, designed to
    support innovative strategies and to ensure accountability for
    measurable results. The Corporation will be supervised by a Board of
    Directors chaired by the Secretary of State and composed of other
    Cabinet-level officials. The Corporation will be led by a Chief
    Executive Officer appointed by the President, by and with the advice and
    consent of the Senate. This proposal provides the Corporation with
    flexible authorities to optimize program implementation, contracting,
    and personnel selection while pursuing innovative strategies.
        The Millennium Challenge Account initiative recognizes the need for
    country ownership, financial oversight, and accountability for results
    to ensure effective assistance. We cannot accept permanent poverty in a
    world of progress. The MCA will provide people in developing nations the
    tools they need to seize the opportunities of the global economy. I urge
    the prompt and favorable consideration of this legislation.

                                                              George W. Bush

     The White House,

     February 5, 2003.