Millennium Challenge Corporation [MCC] Law and Legal Definition

The Millennium Challenge Corporation (MCC) is an advanced and independent U.S. foreign aid agency that fights against global poverty. MCC was created by the U.S. Congress in January 2004. MCC strives to deliver smart U.S. foreign assistance by focusing on good policies, country ownership, and results. The mission of MCC is reducing poverty through economic growth. MCC provides offers both compacts and threshold grants to fund country-led solutions for reducing poverty through sustainable economic growth. This MCC grant complements other U.S. and international development programs. Compacts grants are large, five-year grants for countries that pass MCC’s eligibility criteria. Further, threshold programs are smaller grants awarded to countries that come close to passing these criteria and are firmly committed to improving their policy performance.