07/03/2014: MCC celebrates 10th Anniversary
On February 20,2014, the Millennium Challenge Corporation( MCC) hosted a reception at its headquarters in Washington honoring its partner countries in East and Southern Africa: Malawi, Lesotho, Madagascar, Mozambique, Namibia, Tanzania and Zambia as part of events commemorating MCC’s 10th anniversary. MCC was established as an independent agency of the US administration in 2004 under a law passed by the US Congress.
Speaking during the reception, outgoing MCC President and Chief Executive Officer, Mr. Daniel W. Yohannes, hailed the seven countries for the tremendous progress they have made in reducing poverty for millions of their people through the partnership they have with the MCC. Mr Yohannes also commended MCC for the remarkable achievements in helping transform the lives of poor people in its partner countries, and congratulated them for adhering to the principles and values MCC stands for including respect for human rights and investing in people.
Malawi Ambassador to the United States, His Excellency Steve D.Matenje represented Malawi at the reception. He was accompanied by members of staff of the Malawi Embassy and the MCC Malawi Office.
MCC signed a $350,700,000 Compact with Malawi on April 7, 2011. The Malawi Compact is a single –sector program designated to increase poverty by revitalizing Malawi’s power sector and improving the availability, reliability and quality of the electricity supply. The Compact seeks to increase the capacity and stability of the national electricity grid and bolster the efficiency and sustainability of hydropower generation in Malawi.
The Compact entered into force on September 20, 2013, starting the five year implement-action period. Since then, implementation has proceeded according to agreed benchmarks.