For Immediate Release
Office of the Press Secretary
May 20, 2005

President Congratulates Honduras on Approval of Millennium Challenge Account Compact

Today, the President congratulated Honduras on the approval of its Millennium Challenge Account (MCA) Compact by the Millennium Challenge Corporation (MCC) Board. The $215 million Compact will link rural farmers to the local, regional, and global economies through a comprehensive rural development program and an upgraded transportation network, raising rural incomes and strengthening the region as a whole. It is an example of the innovative and results-oriented approach to development the President launched through the MCA, a groundbreaking initiative that rewards countries that govern justly, invest in their people, and promote economic freedom.

# # #