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Science and Technology in Armenia Toward a Knowledge-Based Economy (2004) / Chapter Skim
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Appendix J: Extracts from Testimony of Paul V. Applegarth, Chief Executive Officer, Millennium Challenge Corporation
Pages 88-91

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From page 88...
... Building on what has been learned in international development assistance, the MCC will take a new approach, one that combines six major concepts in an unprecedented way: · MCC emphasizes policy reform. · It focuses exclusively on sustainable growth.
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From page 89...
... Thus, MCC provides incentives for countries to adopt or maintain policies for governing wisely, investing in their own people and promoting economic freedom. Policy reforms in poor nations can provide opportunities for citizens to benefit from increased international trade and private capital flows, from the growth of their domestic economics, and from greater economic and political freedom.
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From page 90...
... At the same time, these core concepts also provide a clear opportunity for the USG to demonstrate international leadership in promoting economic growth that will help reduce poverty in many of our world's poorest countries. They articulate an international role for the United States that is a positive statement about our country and our values.
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From page 91...
... MCC allocation and funding decisions will be driven by the quality of each country's proposal rather than by the number of eligible countries that submit proposals. MCC may not finalize Compacts with all eligible countries if the programs proposed do not meet MCC standards.
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Key Terms

  • partner countries
  • partner nations
  • development assistance
  • millennium challenge
  • core concepts

  • economic freedom
  • development goals
  • mcc provides
  • meet mcc
  • own people

  • submit proposals
  • challenge corporation
  • provides incentives
  • structural components
  • promoting economic

  • mcc makes
  • incentives inherent
  • disaster relief
  • policy reform
  • domestic economics

  • mcc criteria
  • food aid
  • extend beyond
  • pursue effective
  • governing wisely

  • sustained economic
  • help reduce
  • meeting development
  • demonstrate international
  • exclusive mission


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