Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
Published: 2017-09-15
Total Pages: 70
ISBN-13: 9781976386640
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In January 2004, Congress established the Millennium Challenge Corporation (MCC) for foreign assistance. Congress has appropriated almost $6 billion to MCC. As of March 2007, MCC had signed almost $3 billion in compacts with 11 countries, including a 5-year, $65.7 million compact with Vanuatu. MCC states that the Vanuatu compact will have a transformational effect on the country's economy, increasing per capita income and GDP and benefiting 65,000 poor, rural people. GAO examined (1) MCC's methods of projecting economic benefits, (2) MCC's portrayal and analysis of the projected benefits, and (3) risks that may affect the compact's impact. GAO reviewed MCC's analyses and met with officials and business owners in Vanuatu as well as with other donors.