Press Release
U.S. Embassy Ulaanbaatar
March 7, 2018
Development of the Millennium Challenge Corporation Investment Continues to Move Forward
ULAANBAATAR, MONGOLIA, March 6, 2018 – A delegation from the U.S. Government’s Millennium Challenge Corporation (MCC), led by MCC’s Acting Chief Executive Officer Jonathan Nash, visited Mongolia this week to meet with Prime Minister Ukhnaagiin Khurelsukh and other government officials to advance development of a major grant investment focused on water.
“We had productive meetings with members of the government of Mongolia and the development of the MCC grant continues to move forward,” said MCC Acting CEO Jonathan Nash. “MCC greatly values its relationship with Mongolia and we are committed to working side by side to increase the long-term availability of water to Ulaanbaatar to support economic growth that will reduce poverty and improve lives.”
Mongolia was selected by MCC’s Board of Directors in December 2014 as eligible to develop a second compact. MCC has since worked with the Mongolian Government to craft a program focused on improving the water supply in Ulaanbaatar. A joint economic analysis identified costly access to water and sanitation in productive sectors and poor communities as one of the greatest constraints to economic growth in Mongolia.
MCC, an independent U.S. government agency, funds projects that support clean water, land rights, power and roads, accompanied by policy and institutional reforms, that help people lift themselves out of poverty and create more stable, secure countries and new business opportunities. Once a compact is signed, MCC’s partner countries establish a local accountable entity responsible for compact implementation.
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