MCC Begins Key Assessment for Liberia’s Potential Second Compact

 A high-level delegation from the Millennium Challenge Corporation (MCC), led by Carrie Monahan, Managing Director for Africa, has begun a week-long assessment of the economic challenges facing Liberia as part of preparations for the country’s potential second Compact.

The visit, which started Wednesday, includes a series of engagements with government ministries, agencies, and private sector stakeholders to conduct a Constraints to Growth to Growth Analysis a critical step in MCC’s evidence-based approach to development assistance.

The delegation’s activities kicked off with a meeting at the Ministry of Finance and Development Planning, where Madam Monahan expressed gratitude for the warm reception and underscored MCC’s commitment to its longstanding partnership with Liberia.

“On behalf of the Millennium Challenge Corporation, I would like to thank all of you for the very warm welcome we have received since we arrived in Liberia. We are extremely proud of the long history of partnership between our two countries and the important work we accomplished together during Compact One. The fact that MCC’s Board is considering Liberia for a second Compact is a strong testament to the results we achieved together.” she said.

She emphasized that the consideration for a second Compact reflects Liberia’s leadership, reform efforts, and commitment to charting its own development path. Only a select number of countries qualify for a second Compact, making the December decision of MCC’s Board of Directors a crucial milestone for Liberia.

During the week, the MCC team will consult with a wide range of institutions, including the Ministry of Foreign Affairs, Central Bank of Liberia, Liberia Revenue Authority, Ministry of Mines and Energy, Liberia Extractive Industries Transparency Initiative (LEITI), National Investment Commission, and the Liberia Chamber of Commerce, among others. The findings will help shape the design of a possible new Compact.

Acting Minister of Finance and Development Planning, Hon. Anthony G. Myers, welcomed the MCC delegation and thanked the U.S. Government for reconsidering Liberia for a second Compact. He expressed optimism about the outcome, noting Liberia’s readiness and long-standing collaboration with MCC.

“Liberia had already begun preparations for the second Compact prior to a pause in the process earlier this year. We are encouraged by the resumption of discussions and remain hopeful that Liberia will be selected. The delegation’s detailed itinerary shows a genuine interest in understanding the complex challenges Liberia faces not just in economic development, but also in social progress and trade.” Minister Myers said.

The MCC Constraints to Growth Analysis will form the basis for identifying the most pressing barriers to inclusive growth and poverty reduction in Liberia, ensuring that any future Compact investments have maximum impact.

Written By Jerry Laynumah Siakor

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