U.S. Millennium Challenge Corporation Forges New Economic Partnerships in Latin America

The U.S. Millennium Challenge Corporation (MCC) has announced new economic development programs in Latin America. Ecuador will receive a compact program, while Bolivia and Guatemala will benefit from threshold programs. This initiative aims to foster economic growth and reinforce investment environments in these countries.

The U.S. Millennium Challenge Corporation (MCC) has unveiled plans to launch new economic development initiatives in three Latin American nations, showcasing Washington's commitment to bolster ties within the Western Hemisphere through strategic grants aimed at driving growth and enhancing investment climates.

Ecuador has been selected for a compact program, a substantial grant allocation designed to spearhead significant economic growth projects, primarily due to the strong bonds with the U.S. and progress made towards fiscal stability. Concurrently, Bolivia is set to receive a threshold program, reflecting its positive economic trajectory and dedication to improving its investment landscape to boost private sector growth.

Guatemala's allocation for a threshold program is a nod to the success of a previous MCC initiative in the country, along with its renewed efforts towards economic modernization. Deputy Secretary of State Christopher Landau, presiding over the MCC Board, emphasized that these initiatives highlight the potential to strengthen partnerships in close proximity.

(With inputs from agencies.)