MCC has two grant programs:
• “Compacts” are large, five-year grants for countries that pass MCC’s eligibility criteria. Compacts have ranged from $66 million to approximately $700 million, with an average of approximately $350 million.
• “Threshold Programs” are smaller grants designed to improve governance with the ultimate objective of helping countries become compact eligible.
For fiscal 2017, MCC’s appropriation is $905 million, which includes $105 million for administrative expenses. As of June 2017, the agency has approximately 360 full-time employees (including overseas staff).2 Currently, the CEO oversees roughly $4 billion in ongoing economic assistance programs (compacts and threshold programs) aimed at reducing poverty through economic growth and advancing America’s interests around the world.3 In addition, MCC is currently developing compacts and threshold programs exceeding $3.5 billion.
- Manages the corporation and exercises the powers and discharges the duties of the corporation
- In consultation and with approval of the board, appoints all officers of the corporation (22 U.S.C. § 7703)
- Provides executive leadership and strategic direction for the agency
- Coordinates activities and communications across departments
- Guides overall agency performance and operations
- Except as limited by actions of the board, makes rules and regulations respecting the corporation and its business, including authority to obligate the corporation
- Maintains liaison with the White House, federal agencies, members of Congress, U.S. ambassadors, officers of foreign governments, and domestic, international and foreign businesses
- Serves as a voting member of the board of directors, which:
- Identifies countries eligible for compact assistance, as defined by the Millennium Challenge Act of 2003, and
selects those eligible countries with which MCC will seek to enter into a compact - Approves all compact agreements and threshold programs and major changes to certain MCC policies
- Consults on the termination and suspension of assistance to any eligible country, in accordance with relevant MCC policy
- Provides general supervision over the activities of MCC’s inspector general
- Approves the appointment of all corporate officers of MCC
- Assists MCC to liaise with congressional and other stakeholders4
- Identifies countries eligible for compact assistance, as defined by the Millennium Challenge Act of 2003, and