Monrovia, Liberia – As part of continuing efforts to assess the possibility that Liberia qualifies for a second MCC Compact, the visiting high-level team from the Millennium Challenge Corporation (MCC), headed by Madam Carrie Monahan, Managing Director for Africa, started evaluating the Constraints to Growth Analysis facing the Liberian economy on Wednesday.
It is reported that key government ministries, agencies, and private sector partners will be engaged during the process. The delegation’s visit started with a meeting at the Ministry of Finance and Development Planning, where Madam Monahan emphasized the value of MCC’s ongoing collaboration with Liberia and thanked participants for the cordial reception.
Madam Monahan added, “I want to thank everyone on behalf of the Millennium Challenge Corporation for the very warm welcome we have received since arriving in Liberia. The Minister personally welcomed us as soon as we landed on Monday, and our visit has been absolutely amazing thus far.”
She noted that the delegation’s willingness to interact with Liberia’s development institutions and partners and commended the Ministry’s cooperation in setting up a thorough and fruitful agenda for the week.
“Some of our delegation members are visiting Liberia for the first time, while others are revisiting. In any case, we are all eager to find out more about your stunning nation.”
The visit occurs in the lead-up to the December meeting of the MCC Board of Directors, which will assess Liberia’s eligibility for a second Compact. Given that few nations are chosen for a second Compact, Madam Monahan underlined the importance of this chance.
“We are incredibly proud of the significant work we completed together during Compact One and the long history of partnership between our two countries. The results we achieved together are exemplified by the fact that the MCC Board is considering Liberia for a second Compact,” she said.
This distinction, she continued, is a testament to Liberia’s proven leadership, dedication to change, and active participation in its own development. In order to gain a better understanding of the main obstacles to inclusive economic growth in Liberia, the MCC delegation will interact with a wide range of stakeholders throughout the week.
These stakeholders include the Liberia Institute of Statistics and Geo-Information Services (LISGIS), the Ministry of Mines and Energy, the Liberia Extractive Industries Transparency Initiative (LEITI), the National Investment Commission, the Central Bank of Liberia, and the Ministry of Foreign Affairs.
Others are: the Liberia Revenue Authority, Liberia Special Economic Zone Authority, Ministry of Commerce and Industry, Liberia Chamber of Commerce, and the Liberia Macroeconomic Policy Analysis Center (LIMPAC) at the Ministry of Finance and Development Planning. These findings will inform the design of any potential second Compact should Liberia be selected.
“As your Minister mentioned, the MCC Board of Directors will convene in December to determine if Liberia qualifies for a second Compact, which is why our team is here this week,” Madam Monahan said.
Acting Minister of Finance and Development Planning Hon. Anthony G. Myers thanked President Donald Trump and the US government for reevaluating Liberia for a second Millennium Challenge Corporation (MCC) Compact. Before the process paused earlier this year, Liberia had already started preparing for the second Compact, he said, and welcomed the return of discussions.
Minister Myers cited the two nations’ long-standing friendship and shared commitment to development as reasons for his optimism that Liberia will be chosen for the new Compact. He added that the delegation’s thorough agenda shows a keen interest in understanding the complex economic issues Liberia faces, including those related to trade, social progress, and economic development.
A key element of the MCC’s evidence-based approach to development aid is its challenges to progress nalysis, which makes sure that Compact investments focus on the most pressing barriers to poverty alleviation and economic progress.
