Millennium Challenge delegation to visit Chisinau

A group of experts from the Millennium Challenge Corporation (MCC) is expected to arrive in Chisinau the next week to have meetings with representatives of the government, the private sector and international organisations’ missions to Moldova. Deputy prime-minister Zinaida Grecianai, who chaired the first meeting on working out the Compact Proposal within the “Millennium Challenge Account” (MCA) Programme, says the draw-up of the proposal will engage central and local authorities, representatives of the private sector, academic representatives and civil society. The group of experts is going to make a step-by-step economic analysis to identify the most important constraints and impediments that slows the economic development at macro-economic and at smaller levels. The results of the analysis will be used to draw up the proposal that will be submitted to MCC. Millennium Challenge Compacts are multi-year agreements between MCC and eligible countries to fund specific programs targeted at reducing poverty through sustainable economic growth. MCC measures policies in all candidate countries using 16 independently measured and transparent benchmarks known as indicators, which have a demonstrated link to poverty reduction and economic growth. These indicators measure countries’ demonstrated commitment to policies that promote, among other things, political and economic freedom, investments in education and health care, control of corruption, and respect for civil liberties and the rule of law. On 8 November 2006, Moldova became eligible for developing proposals for assistance under MCA following the Board of Directors’ decision. The US government has decided at the end of last year, to offer Moldova a financial assistance of USD 24.7 mln under the Preliminary Program of the Millennium Challenge Corporation.