U.S. Government’s Millennium Challenge Corporation (MCC) delegation led by Vice President, General Counsel and Corporate Secretary Jeanne Hauch will visit Malawi from February 27 to March 1 to discuss the development of a new MCC compact.
Malawi was selected by MCC’s Board of Directors as eligible to develop a compact in December 2018 after successfully completing its first five-year compact, which was focused on the energy sector.
During the visit, Vice President Hauch and her team will meet with government officials, civil society, and the private sector, among others.
Hauch is responsible for providing counsel to MCC’s Board of Directors and senior management on a range of legal and policy matters.
In December 2018, MCC approved Malawi to seek another development compact after it successfully completed the first compact of $350 million (K259 billion) energy project which closed on September 21 last year.
According to Minister of Finance, Economic Planning and Development, Goodall Gondwe, the country scored 65 percent on tackling corruption to the scorecard in the first compact, to qualify for the second regime.
Malawi also improved scores in investing in people and ruling justly.
MCC compacts are basically grants designed to be invested in sectors that can facilitate economic development and poverty eradication in beneficiary countries , usually poor economies such as Malawi.