The Millennium Challenge Corporation announces the latest criteria to apply for assistance

The Millennium Challenge Corporation (MCC) announces the latest criteria on how developing countries can apply for assistance from its US $1 bn fund in 2005. The Millennium Challenge Corporation (MCC) announces the latest criteria on how developing countries can apply for assistance from its US $1 bn fund in 2005. In May this year a first batch of 16 developing and least developed countries were selected to apply for assistance from the Millennium Challenge Account (MCA) fund in 2004.

In July another list of 70 countries were announced to apply for funds in 2005.

Sri Lanka made it into both lists but is yet to make any move towards accessing the fund and so far the MCC has not announced the release of funds to any country.

Currently the account holds US $1 billion for disbursement.

President Bush pledged to increase the fund up to US $ 5 bn a year starting from 2006.

During the months of May and June MCC delegations travelled to each eligible country, including Sri Lanka to explain how the funds can be accessed and to initiate discussions with these governments.
The selection criteria and methodology on how countries can access the fu