Monrovia – Liberia has achieved eligibility for a second Millennium Challenge Corporation (MCC) Compact, paving the way for a potential $500 million grant aimed at advancing the nation’s development priorities.
President Joseph Boakai made the announcement on December 18, 2024, during a speech at the Executive Mansion.
This milestone comes as a result of Liberia’s strong performance on the Millennium Challenge Corporation (MCC) Scorecard, which evaluates countries on governance and economic reforms.
Liberia met the required threshold by passing at least 10 of the 20 indicators, including those related to the rule of law, trade policy, and fiscal management.
“This is a significant step forward for our nation,” President Boakai stated. “The MCC has recognized Liberia’s efforts in governance and reform, and this Compact will empower us to tackle critical challenges to economic growth.”
Although the specific funding allocation has yet to be finalized, MCC second compacts typically range from $350 million to $500 million.
The grant is expected to support key areas such as infrastructure development, energy access, and economic diversification, all of which are critical for Liberia’s growth agenda.
“This Compact will strengthen our infrastructure, expand energy access, and accelerate economic transformation,” the President highlighted, describing the grant as a game-changer for Liberia’s development trajectory.
President Boakai emphasized that the achievement belongs to all Liberians, reflecting the country’s commitment to unity and progress. He urged citizens to embrace this success as an opportunity to build a stronger future together.
“This is a moment of pride for our nation. It demonstrates that through hard work and reform, Liberia can achieve remarkable progress,” he said.
The President assured the public that additional details about the Compact’s implementation would be shared in the coming weeks, encouraging collective support for this transformative initiative.
