MCC Board Approves Compact with the Philippines

The Millennium Challenge Corporation's board of directors has approved a $434 million compact with the Government of the Philippines.  This approval signals the new government's commitment to MCC principles and processes.   MCC CEO Daniel Yohannes praised the people and the Government of the Philippines for "articulating a clear vision to improve the quality of their lives through a technically, environmentally, and socially sound plan."The compact will focus on three major projects: 1) investments to computerize and streamline business processes in the Bureau of Internal Revenue; 2) expansion of Kalahi-CIDSS, a community-based, rural development program that empowers poor communities to design and drive projects that will increase their incomes and improve their lives; and 3) construction and repair of a major road to improve access to markets and services in some of the poorest provinces in the Philippines.