Liberia has achieved an important milestone on the global stage, with the Millennium Challenge Corporation (MCC) granting the nation eligibility to develop its second compact.
The announcement during the MCC Board of Directors’ quarterly meeting on December 18 reflects Liberia’s commendable progress in governance and economic reforms. This development signals an opportunity for the country to secure substantial funding to address critical development challenges.
President Joseph Boakai, in a national address on the same day, expressed pride and optimism over the achievement. He described it as a testament to Liberia’s commitment to democratic governance and economic transformation. “This remarkable achievement reflects the international community’s confidence in our governance and reform efforts. It is a victory not just for the government but for all Liberians,” President Boakai stated. He further emphasized that the approval underscores Liberia’s dedication to fostering progress through collective effort.
While the specific funding amount has not been disclosed, second compacts under the MCC program typically range from $350 million to $500 million. These funds are expected to target critical infrastructure, energy, and economic transformation sectors. Such investments will bolster the nation’s sustainable development goals and improve the lives of countless Liberians who continue to face challenges related to limited access to basic services and opportunities.
Liberia’s consistent performance on the MCC scorecard over the past three years has been central to this success. The scorecard, a rigorous assessment of governance, economic policies, and democratic rights, has shown Liberia meeting key performance indicators consecutively. In 2024, Liberia achieved its highest score, passing 14 out of 20 indicators. This consistent progress has solidified the country’s reputation as a regional leader in reform and development.
President Boakai highlighted that this accomplishment reflects a collective effort by Liberians at all levels. “This is a testament to our unity and determination to build a better Liberia. Let us join hands in celebrating this moment and continue to work together for the advancement of our nation,” he said. The President also thanked Liberia’s development partners for their support and reaffirmed the government’s commitment to delivering on its reform agenda.
The MCC’s decision to approve Liberia’s eligibility comes at a critical time when the country is grappling with economic challenges and striving to strengthen its governance framework. Once developed, the compact is expected to boost Liberia’s efforts to address long-standing development bottlenecks, particularly in energy and infrastructure. These sectors have been identified as major economic growth and social development constraints.
The compact development process will involve consultations with stakeholders nationwide to ensure that the funds are directed toward the most impactful areas. Transparency and accountability will be key to the successful implementation of the compact as Liberia seeks to maximize the benefits of this opportunity. The government has pledged to engage with citizens, development partners, and the private sector to design a program that addresses the nation’s pressing needs.
President Boakai assured citizens that more details about the compact’s focus areas and funding allocations will be disclosed in the coming weeks. He encouraged all Liberians to remain hopeful and united in pursuing the country’s growth agenda. “This development must lift every spirit and restore hope that we will achieve greater feats. Let us join our voices together and say, ‘Congratulations, Liberia!'”
The MCC compact represents a historic opportunity for Liberia to build on its progress and address binding constraints to growth. It also demonstrates the importance of strong governance and reform in attracting international support. This milestone marks a turning point and a chance to lay the foundation for sustained development for a country that has faced significant challenges in recent years.
Observers and stakeholders have hailed the MCC’s decision as a vote of confidence in Liberia’s ability to manage its affairs and deliver results. The compact, once implemented, is expected to have a transformative impact on the nation’s economy, creating jobs, improving infrastructure, and enhancing the overall quality of life. It is also likely to attract further investments and partnerships, boosting Liberia’s standing in the global community.
The road ahead will require dedication and vigilance to ensure the compact delivers its promise. With strong leadership, effective planning, and broad-based support, Liberia is well-positioned to make the most of this opportunity. As the country prepares to embark on this new chapter, the focus will be on turning this achievement into tangible results that benefit all Liberians.
For many, the MCC compact is more than just a financial boost—it symbolizes hope and progress. It serves as a reminder that with the right policies and commitment, Liberia can overcome its challenges and achieve its potential. As the nation celebrates this accomplishment, it is clear that the journey toward a brighter future is just beginning.
