G-L and Post members,
About a month or so ago, Karamba Touray commented on the $5 billion
Millennium Challenge Account recently established by the Bush Administration
to be administered by a new US government corporation to support innovative
development strategies by eligible countries. The Account will be
operational in FY 2004. If I recall, Karamba lamented about the fact that
The Gambia may loose out on this opportunity because of the eligibility
criteria established by the US Government. Well, reading the East African
Standard a couple of weeks ago, The Gambia was listed as one of the possible
beneficiaries of this new initiative. We will see how things evolve as the
MAC is established which 'will be devoted to projects in nations that are
governed justly, invest in their people and encourage economic freedom'.
Sidi Sanneh
GW on the MAC:
'We must tie greater aid to political and legal and economic reforms. And
by insisting on reform, we do the work of compassion. The United States
will lead by example. I have proposed a 50-percent increase over current
levels.
These new funds will go into a new Millennium Challenge Account, devoted to
projects in nations that govern justly, invest in their people, and
encourage economic freedom.'
--President George W. Bush, Monterrey, Mexico, March 22.
________________________________________________________________________________________________________________________________________________
***The above is based on White House Press Release issued from the Office of
the Press Secretary and released on 25 November 2002. Details of the MAC
could be found in the White House web site. If not, I will more than
pleasedto reproduce the details i.e. bacground information, modalities for
the administration of the Account, eligilibity criteria, performance
assessment and final selection procedures. Let me know if you are
interested.
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