For Immediate Release
Office of the Press Secretary
November 9, 2004

Statement by the Press Secretary

On November 8, the Millennium Challenge Corporation (MCC) selected its Millennium Challenge Account (MCA)-eligible countries for Fiscal Year 2005. This decision marks another step forward in implementing the President's vision of an ever-widening circle of development and his groundbreaking MCA initiative. The MCA is a bold, new compact for global development that rewards countries that govern justly, invest in their people, and encourage economic freedom. The implementation of MCC programs in selected countries will accelerate economic growth and poverty reduction. The President welcomes the addition of Morocco to Armenia, Benin, Bolivia, Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia, Mozambique, Nicaragua, Senegal, Sri Lanka, and Vanuatu.

In addition, the MCC designated six new countries as eligible for its 2005 Threshold Program, enabling them to apply for grants designed to help them qualify for the MCA. Burkina Faso, Guyana, Malawi, Paraguay, Philippines, and Zambia now join Timor-Leste, Kenya, Sao Tome, Tanzania, Uganda, and Yemen, in working to achieve the stringent standards for country selection.

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