United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2005-04-26 monographic deposited born digital 55 p. GA 1.13:GAO-05-455T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-455T P0b002ee1803726d9 f:d05455t DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-05-455T machine generated eng fdlp REPORT GAOREPORTS-GAO-05-455T GAO-05-455T Accountability Agency missions Appropriated funds Appropriations Developing countries Economic development Economic growth Eligibility criteria Eligibility determinations Foreign economic assistance Foreign governments Grants Internal controls International agreements Performance measures Strategic planning Stakeholder consultations Government agency oversight MCC Threshold Program Testimony A22657 In January 2004, Congress established the Millennium Challenge Corporation (MCC) to administer the Millennium Challenge Account. MCC's mission is to promote economic growth and reduce extreme poverty in developing countries. The act requires MCC to rely to the maximum extent possible on quantitative criteria in determining countries' eligibility for assistance. MCC will provide assistance primarily through compacts--agreements with country governments. MCC aims to be one of the top donors in countries with which it signs compacts. For fiscal years 2004 and 2005, Congress appropriated nearly $2.5 billion for the Millennium Challenge Corporation; for fiscal year 2006, the President is requesting $3 billion. GAO was asked to monitor MCC's (1) process for determining country eligibility, (2) progress in developing compacts, (3) coordination with key stakeholders, and (4) establishment of management structures and accountability mechanisms. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-455T/html/GAOREPORTS-GAO-05-455T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-455T/pdf/GAOREPORTS-GAO-05-455T.pdf GAO-05-455T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-455T Testimony GAO-05-455T; Millennium Challenge Corporation: Progress Made on Key Challenges in First Year of Operations; Accountability Agency missions Appropriated funds Appropriations Developing countries Economic development Economic growth Eligibility criteria Eligibility determinations Foreign economic assistance Foreign governments Grants Internal controls International agreements Performance measures Strategic planning Stakeholder consultations Government agency oversight MCC Threshold Program Volume 118 Page 2809 118 Stat. 2809 Public Law 108-199 Public Law 108-447