The Head of Government receives the President and Director General of the Millennium Challenge Corporation
The Head of Government, Mr. Aziz Akhannouch, received, on Thursday, March 16, 2023, in Rabat, Mrs. ALICE ALBRIGHT, President and CEO of the Millennium Challenge Corporation (MCC), who is on a working visit to Morocco on the occasion of the conclusion of the "Compact II" program, where they jointly chaired the closing ceremony.
During the meeting, the Head of Government thanked the Millennium Challenge Corporation and the US government for their development support to the Kingdom, through its benefit from two cooperation programs (Compact I and Compact II), stressing Morocco's aspiration to strengthen this partnership by exploring ways to balance the positive results achieved and the innovative approaches and good practices adopted in the two programs.
He explained that the "Second Compact" is the embodiment of this strategic partnership between the Kingdom of Morocco and the United States of America, as an incentive for development that combines investments to rehabilitate the infrastructure of the strategic sectors of our country, with the institutional and structural reforms in which the Kingdom has engaged, under the leadership of His Majesty the King, may God assist him.
The conclusion of the "Compact II" program was an opportunity to take stock of the important achievements made by this program, as it was allocated a financial envelope of about $ 460 million in support from the US Millennium Challenge Corporation, in addition to a contribution from the Moroccan government of more than $ 120 million, which is almost double the threshold set at 15% of the US contribution.
Launched in 2017, the Compact II program will end by March 31, 2023, in accordance with the agreement with the US Millennium Challenge Corporation (MCC). In this regard, the decree-law on the dissolution and liquidation of the MCA-Morocco Agency was issued, in accordance with the requirements of the law establishing it, provided that the liquidation process of the institution will be completed by July 29, 2023.
