Summary <\/p>\n
This report to Congress is provided in accordance with section 608(a) of the Millennium Challenge Act of 2003, as amended, 22 U.S.C. 7701, 7707(a) (the Act). <\/p>\n
The Act authorizes the provision of assistance for global development through the Millennium Challenge Corporation (MCC) for countries that enter into a Millennium Challenge Compact with the United States to support policies and programs that advance the progress of such countries to achieve lasting economic growth and poverty reduction. The Act requires MCC to take a number of steps in selecting countries with which MCC will seek to enter into a compact, including determining the countries that will be eligible countries for fiscal year (FY) 2024 based on (a) a countrys demonstrated commitment to (i) just and democratic governance, (ii) economic freedom, and (iii) investments in its people; (b) the opportunity to reduce poverty and generate economic growth in the country; and (c) the availability of funds to MCC. These steps include the submission to the congressional committees specified in the Act and publication in the Federal Register of reports on the following: <\/p>\n
This report is the first of three required reports listed above. <\/p>\n
The Act requires the identification of all countries that are candidate countries for purposes of eligibility for MCC compact assistance for FY 2024 and the identification of all countries that would be candidate countries for purposes of eligibility for MCC compact assistance but for specified legal prohibitions on assistance. Under sections 606(a) and (b) of the Act, candidate countries must qualify as low income or lower middle income countries as defined in the Act. <\/p>\n
Specifically, a country will be a candidate country in the low income category for FY 2024 if it <\/p>\n
A country will be a candidate country in the lower middle income category for FY 2024 if it <\/p>\n
Under section 606(c) of the Act as applied for FY 2024, a country with per capita income changes from FY 2023 to FY 2024 such that the country would be reclassified from the low income category to the lower middle income category or vice versa will retain its income status in its former category for FY 2024 and two subsequent fiscal years (FY 2025 and FY 2026). A country that has transitioned to the upper middle income category does not qualify as a candidate country. <\/p>\n
Pursuant to section 606(d) of the Act, the Board identified the following countries as candidate countries under the Act for FY 2024. In so doing, the Board referred to the prohibitions on assistance to countries for FY 2023 under the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2023 (FY 2023 SFOAA) contained in Division K of the Consolidated Appropriations Act, 2023 (P.L. 117-103). <\/p>\n
Countries that would be considered candidate countries for purposes of eligibility for MCC compact assistance for FY 2024 but are ineligible to receive United States economic assistance under part I of the Foreign Assistance Act by reason of the application of any provision of the Foreign Assistance Act or any other provision of law are listed below. This list is based on legal prohibitions against economic assistance that apply as of July 25, 2023. <\/p>\n
Countries identified above as candidate countries, as well as countries that would be considered candidate countries but for the applicability of legal provisions that prohibit U.S. economic assistance, may be the subject of future statutory restrictions or determinations, or changed country circumstances, that affect their legal eligibility for assistance under part I of the Foreign Assistance Act by reason of application of the Foreign Assistance Act or any other provision of law for FY 2024. <\/p>\n
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Report on Countries that are Candidates for Millennium Challenge ... - Millennium Challenge Corporation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Summary This report to Congress is provided in accordance with section 608(a) of the Millennium Challenge Act of 2003, as amended, 22 U.S.C. 7701, 7707(a) (the Act) Continue reading