Addis Ababa — A delegation from the U.S. government visited Ethiopia this week to discuss the development of a threshold program to reduce poverty and promote economic growth in Ethiopia, the U.S. Embassy in Addis Ababa announced today.
Ethiopia was selected by Millennium Challenge Corporation (MCC's) Board of Directors as eligible for an MCC threshold program in December, 2018.
The delegation, discussed with senior government officials on poverty reduction and promoting economic growth in partnership with the government of Ethiopia.
They also met leaders from the private sector and development community to discuss MCC's approach to fighting poverty through economic growth and the threshold program development.
MCC Vice President Cynthia Huger said that "the decision by MCC's Board of Directors to select Ethiopia for a threshold program is evidence of the government's commitment to strengthening democratic institutions, improving economic policies, and investing in its people."
"This new collaboration is an opportunity for Ethiopia and the United States to strengthen our relationship around our shared goal of reducing poverty through economic growth," she added.
U.S. Ambassador to Ethiopia Michael Raynor said "this opportunity would not be possible without the concrete steps the Ethiopian government has already taken toward democratic and economic reform."
"It is a strong expression of the United States' confidence in the determination of the government of Ethiopia to fully achieve its reform agenda and U.S. commitment to support the Ethiopian government in ensuring the reforms are successful and sustainable," he added.
During the threshold program development process, MCC and the Ethiopian government will jointly conduct an economic analysis to identify significant factors to private investment and entrepreneurship that hold back economic growth in the country.
The analysis will inform the specific sectors of MCC projects under the threshold program focusing on policy and institutional reforms that encourage economic growth. According to the press release the Embassy sent to ENA, the program development involves 18-24 months of analysis and planning before a grant agreement is signed