For Immediate Release
Office of the Press Secretary
March 14, 2005

Statement on Madagascar's Millennium Challenge Account Compact Approval

STATEMENT BY THE PRESS SECRETARY

Today, the President congratulated Madagascar on being the first country to have its Millennium Challenge Account Compact approved by the Millennium Challenge Corporation (MCC) Board and thanks the MCC Board for its diligence in this effort. The MCA is a groundbreaking development initiative that rewards countries that govern justly, invest in their people, and promote economic freedom. The $110 million program with Madagascar epitomizes this new approach, focusing on raising rural incomes and investment through a comprehensive plan that links land titling, banking, and agricultural investment.

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