MASERU - The government on Tuesday said preparations are on track for the signing of the accession of Lesotho to the second compact of the Millennium Challenge Corporation (MCC), and that it is not true that the United States (US) government has deferred the signature allegedly because of the government’s unclear commitment to the implementation of national reforms.
business
May 31, 2018
POLOKO MOKHELE
2 min read
MCC Compact II signing preps on track: Govt
MCC is an independent US government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to poor countries that meet rigorous standards for good governance, through fighting corruption to respecting democratic rights. According to a statement from the office of the Lesotho government secretary, “the MCC technical mission is currently working with the Lesotho team led by the Lesotho Millennium Development Agency (LMDA), an entity established legally by the government of Lesotho. The process involves a number of discrete stages, and the conditions for their completion must all be comprehensively assessed and achieved before proceeding to succeeding ones.
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In February 2018, a high-level MCC delegation from the US Government’s Millennium Challenge Corporation, comprised of Kyeh Kim Principal Deputy Vice President, Africa; Tom Kelly, Acting Vice President, Department of Policy and Evaluation; and Jason Small, Managing Director, Africa, visited Lesotho to discuss the development of an MCC compact to reduce poverty and promote economic growth in partnership with the government of Lesotho. Lesotho was initially selected by the MCC’s Board of Directors as eligible for a second MCC compact in December 2013, and was re-elected in December 2017, after a two-year break. On May 1, 2018, MCC ‘s investment management committee sat and approved the identified list of constraints to Lesotho’s economic growth after it had remained in Lesotho for two weeks in February working with the Lesotho Technical team on identifying the constraints to Lesotho’s economic growth.
