A delegation from the US Government's Millennium Challenge Corporation arrived in Belize yesterday, and they are on an official 2-day visit. The MCC is an independent U.S. foreign assistance agency that seeks to help lead the fight against global poverty. And their Board of Directors picked Belize as one of two countries to develop and fund programs in.
Today, Chief Executive Officer Alice Albright and Prime Minister John Briceno signed an initial engagement agreement to finance the Government's initial administrative expenses. This provision of up to $750,000 in funding will ensure that the Government and MCC have early access to the technical expertise needed to conduct a rigorous assessment of the country's economic situation, setting the stage for robust project proposals, and facilitating the development of an MCC compact.
This process can take as long as 2 or 3 years to be completed. The two sides have agreed to host a press briefing tomorrow, and we'll share their comments with you in our Thursday newscast.
