Millennium Challenge Corporation
The Millennium Challenge Corporation (MCC) is a United States government-owned corporation responsible for the stewardship of the Millennium Challenge Account (MCA). MCC works with developing countries to promote sustainable economic growth to reduce poverty. MCC provides oversight and technical support to countries during Compact Development and during Compact Implementation. During the Compact Development phase (Due Diligence), MCC conducts cost-benefit analysis to assess the proposed projects’ likely economic impact and cost-effectiveness and estimate the share of the population who may benefit from the program. After a Compact is signed, the Department of Compact Implementation, is responsible for providing financial oversight, technical backstopping and for monitoring progress through key indicators. MCC’s focus on results requires the close monitoring and measuring of economic impact in terms of household income and poverty reduction.