Millennium Challenge Corporation Board Approves $25 M Threshold Program with the Gambia
EMBASSY OF THE UNITED STATES OF AMERICA
Banjul, The Gambia
For Immediate Release
September 29, 2021
Millennium Challenge Corporation Board of Directors Approves $25 Million ThresholdProgram with Government of The Gambia
Program to focus on access to reliable electricity
Banjul, The Gambia (Sept. 30, 2021) – The Millennium Challenge Corporation’s (MCC) Board of Directors met in Washington, DC on September 29, 2021, and voted to approve a $25 million investment, called a Threshold Program, between MCC and the Government of The Gambia.
“Board Approval of this program is representative of the significant progress The Gambia has made on a range of key indicators in political and economic governance, and human rights,” says Richard C. Paschall, Ambassador of the United States to the Republic of The Gambia. “We are proud to partner on this program that furthers our objective of building capacity and the resources to manage The Gambia’s economy and support growth that furthers the well-being of Gambiancitizens.”
The program is focused on supporting The Gambia’s electricity sector, including critical policy and institutional reforms to develop more effective, accountable, and transparent governance for the sector, as well as improve sector operations. As part of the agreement, The Government of The Gambia will implement several institutional and policy improvements to ensure the successful implementation and sustainability of the project.
“The MCC-The Gambia program is a timely and important result of the deep partnership between the United States and The Gambia,” said Matthew Langhenry, MCC Resident Threshold Director in The Gambia. “The program also constitutes an affirmation of The Gambia’s commitment to goodgovernance and equitable prosperity at a critical time in The Gambia and the broader region.”
The program is the result of several consultations MCC has held with The Gambian government, private-sector, international partners, and civil society to determine the greatest needs for The Gambia’s economic growth. These consultations determined that The Gambia’s efforts to improve the generation and delivery of electricity are a key component of future economic prosperity. Improving electricity systems will resultin higher productivity and efficiency and address the high costs and lost production caused by frequent outages.
Approval from MCC’s Board of Directors means that MCC and the Government of the Gambia can now finalize and sign the threshold agreement. MCC looks forward to collaborating with the Government of the Gambia on this process and beginning program implementation soon.
The Millennium Challenge Corporation is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.