U.S. Embassy Statement

Frances Reid, Managing Director of the Millennium Challenge Corporation (MCC) for Europe, Asia and the Pacific, visited Mongolia from January 31-February 2.  During her visit, Ms. Reid met with Prime Minister M. Enkhbold and Finance Minister Bayartsaikhan.  She held extensive discussions with Ministry of Finance State Secretary G. Khurelbaatar, the chair of Mongolia's MCA National Council, and met with the members of the National Council.

Ms. Reid reaffirmed the intent of the United States to conclude a Millennium Challenge Account (MCA) Compact with Mongolia during 2007.  During her visit, she discussed with counterparts a joint work plan aimed at enabling the Compact to be completed in coming months and signed later this year. 

Ms. Reid and Mongolian officials also reviewed the projects under discussion for inclusion in the Compact.  As a result of mutual research and consultation, these projects have evolved from the September 2005 proposals of the Mongolian government.  Under an MCA Compact, Mongolia will use substantial grant assistance provided by the U.S. government to meet needs in sectors identified by the Mongolian government after public consultation, and to significantly spur economic growth and poverty reduction.