Morocco added to US Millennium challenge account recipient countries
Morocco-USA, Economics, 11/10/2004

Morocco was among a list of 16 countries that were declared by Washington eligible to share $1 billion of the Millennium Challenge Account for FY 2005.

Morocco was included in the list for the first time while the 15 other countries are there for the second time. Recipient countries are Armenia, Benin, Bolivia, Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia, Morocco, Mozambique, Nicaragua, Senegal, Sri Lanka, and Vanuatu. They all have a maximum per capita annual income of 1,465 dollars.

In fiscal year 2004, which ended Sept.30, the countries were eligible for a share of $1 billion for infrastructure, banking and education projects.

US secretary of state, Colin Powell, told the MCA administrative board security challenges at the global and regional levels require that we seek innovating solutions, and the MCC is one of these solutions.

The Millennium Account Corporate (MCC) executive manager, Paul Applegarth, stressed that the countries were selected for their efforts to set forth most appropriate policies. We look forward to partnerships with these countries that crafted a serious action plan to reduce poverty and promote economic growth, he added.

For 2005, Bush proposed $2.5 billion but Congress has so far agreed to provide $1.25 billion. Bush wants the program to reach $5 billion a year.

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