Monrovia — The confident level of Liberia being considered for another Compact is at the peaking as a high-level delegation from the Millennium Challenge Corporation (MCC) is in town and has already begun favorable discussions with the Liberian government.
MCC Compact is a five-year grant agreement between the U.S. government and a partner country, designed to reduce poverty and stimulate economic growth through targeted investments in core infrastructure and policy/institutional reforms. Countries are selected based on their commitment to democratic governance and economic freedom, and they must lead the development and implementation of these country-specific programs with accountability and transparency.
The MCC's team visit aims to long-standing development ties between the US and Liberia and begin preparation engagement for the upcoming December Board meeting of the MCC, at which Liberia is expected to be considered for the second compact.
Welcoming the visiting delegation at the Ministry of Finance and Development Planning (MFDP) for an inception meeting, Acting Finance Minister, Mr. Anthony G. Myers, on behalf of the Government of Liberia (GoL), for reconsidering Liberia in the MCC Compact selection framework.
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Mr. Myers, also Deputy Minister of Fiscal Affairs, reconsideration of Liberia for the Compact speaks volumes of the US government's interest in helping to address all of its economic fundamentals.
More to that, he said it also speaks to the relationship that goes way back into history over 200 years that continues to be strengthened by the day.
"So, on behalf of the Minister of Finance and extension, the President of the Republic of Liberia, we want to say thanks to President Trump and the Government of the United States for thinking of Liberia in this reconsideration of the MCC program. Again, like I said from the beginning, this just speaks to the long and historic relationship between the two countries," Myers indicated.
"And even when countries around the world in our own position who may even have probably better economies, better situated in terms of how far they are advanced in the economic system or the size of their economies, the potential that Liberia will be considered is good for the partnership. It speaks to the fact that on both sides of the ocean, Liberians and Americans consider each other as partners in the diplomatic sense, in the political sense and now in the economic and development sense have manifested here."
According to him, the team, while here, will thoroughly do key research to know the issues that the country faces as a development challenge to advance solution.
"And from reading some of your initial write up; preliminary research on the issue also shows that you are interested in addressing all of the challenges we have both in the social development sense in the economic development sense and more so, in the trade sense because we know also that all of these three different dimensions are interlinked."
Though it's an inception meeting, Myers is confident that it is the beginning of more technical meetings for the formal launch of the MCC process for the second compact.
Also speaking at the occasion, the Head of the MCC delegation, Madam Carrie Monahan, joined Minister Myers to emphasize the long history of partnership and the success of a prior program, which makes Liberia eligible for consideration for a second "compact" grant.
Madam Monahan, Managing Director for Africa, explained that the primary objective of the current visit is to identify binding constraints to economic growth in Liberia to determine the most effective investment areas that would stimulate private sector investment.
Furthermore, said the team is seeking opportunities that offer a "win-win" scenario for both Liberia and the United States, aligning with the new administration's focus on "trade, not aid," before the board meeting in December.
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She noted that this consideration is a significant testament to Liberia's commitment and engagement following the success of the initial program.
"So we are really looking forward to discovering more about your beautiful country. We also are extremely proud of our very long history and partnership between our two countries and we are very proud of the work that they accomplished together. The fact that the board is considering Liberia for a second compact is a testament to that work. So, it's really a testament to your commitment and engagement and the great success of that program. So we would like to thank you for that," she told the gathering of Finance Ministry technicians.
"Our team is here this week because as Mr. Minister noted, the MCC's Board of Directors will be considering Liberia in December during their board meeting for selection for a second Compact."
