Georgia and United States Sign $295.3 million Compact

The Republic of Georgia and the United States signed a five-year $295.3 million compact in New York City on September 12.MCC Chair Condoleezza Rice highlighted the significance of the grant. "The Millennium Challenge Compact that we sign today represents America's long-term commitment to Georgia's future success, and our partnership will only continue to grow stronger as Georgia continues to establish the rule of law, a vibrant and civil society, an independent media, a free economy and an accountable, effective institutions of government at all levels," she said.The compact aims to boost rural development and reduce poverty in the region outside of the capital city of Tbilisi where more than half of the country's rural population lives.MCC Temporary CEO Charles Sethness commended Georgia's efforts. "Congratulations to the people and Government of Georgia for this great achievement," he said. "I especially want to thank President Saakashvili for his leadership, his dedicated team for their hard work, and the people of Georgia for developing a concrete plan to lift the poor out of poverty and spur economic growth. This Compact is a testament to the commitment of Georgians to take ownership of their development path. MCC is proud to be Georgia's partner in its efforts to reduce poverty in the regions outside of Tbilisi."Georgia is the first former Soviet republic to sign a compact with the United States. Armenia, another former Soviet republic, also qualified for MCA fundings, but has yet to get the board's approval.Madagascar, Honduras, Nicaragua and Cape Verde signed their compacts with the United States earlier this year.Georgia Compact Summary Signing Ceremony RemarksGeorgia's Compact