Belize Selected for A New Phase of the Millennium Challenge

A delegation from the U.S. Government’s Millennium Challenge Corporation, led by Chief Executive Officer Alice Albright has been in Belize for the past two days. The visit was to discuss the development of a new M.C.C. compact, as Belize was deemed eligible for financial support. The independent U.S. government agency’s mission is to reduce poverty through economic growth. Over time, fifteen billion dollars have been deployed in twenty-nine countries and assisted an estimated two hundred and fifteen million people over that time. Today, a press conference was held at the Radisson to announce the partnership and to break down the timeline in which assistance will be forthcoming.

Alice Albright

Alice Albright, C.E.O., Millennium Challenge Corporation

“Our investments which we call compacts are five year grants that target the conditions that hold nations back from greater economic growth and therefore the ability to reduce poverty. On Tuesday, I arrived in Belize to congratulate the Government of Belize on the M.C.C.’s Board of Directors’ recent decision which was taken in December to select Belize as an eligible country for a compact with M.C.C. In terms of timing, typically compact development takes two to three years of development and planning before a formal grant agreement is signed. We are going to make every effort to try to go through that process quickly.  However, commitment to this process helps minimise limitation risks. Throughout, we ensure input from all important stakeholders and doing so will set up the program for success in the future.”