Millennium Challenge starts considering Moldova’s country proposal

A delegation of the Millennium Challenge Corporation (MCC), led by the country director, Christopher Williams, is on a visit to Moldova till April 24 to discuss with the Government, donors and interest groups on evaluating Moldova’s country proposal to get Compact assistance, Info-Prim Neo reports, quoting the Government’s press service . One of the main objectives of the mission consists in drafting a so-called Opportunity Memo for the MCC’s Investment Committee, a document setting out the projects of the Compact Program to be checked up and elaborated. Meeting Prime-Minister Zinaida Greceanai, Christopher Williams said the Compact Program projects to be put up for funding were to identify real solutions for major current problems, and to contribute to Moldova’s economic growth. Zinaida Greceanai expressed her trust the projects would generate stimulants and new opportunities to develop businesses and enhance the capital flow into Moldova. The Millennium Challenge Program was instituted by the US Congress in 2004, following an initiative by President George W. Bush. It allows to provide substantial financial aid to low-income countries and is oriented to develop infrastructure, to support social projects and strengthen the principles of market economy. The full Compact assistance is provided as non-reimbursable investments in key areas for speeding up economic growth and for reducing poverty. Now Moldova benefits of MCC assistance amounting to $24.7 million within the Threshold Program. The main condition to be approved for the Compact Program is to successfully accomplish the actions of the Threshold Plan, as fair governing and fighting corruption; investing in people; economic freedom; managing natural resources.