MONROVIA – Liberia has been approved for a second compact with the Millennium Challenge Corporation (MCC), positioning the country to receive a significant grant worth up to $500 million. President Joseph Boakai disclosed this achievement during a national address on December 18, 2024, at the Executive Mansion.
The approval follows Liberia’s successful performance on the MCC Scorecard, which assesses a nation’s progress in areas like governance and economic policy. Liberia met the required benchmark by excelling in indicators such as legal systems, trade openness, and fiscal responsibility.
President Boakai described the development as a pivotal moment for Liberia. “This achievement is a recognition of the strides we’ve made as a country. It provides an opportunity to address major barriers to our economic growth,” he said.
While the exact funding amount remains undecided, MCC second compacts typically provide between $350 million and $500 million. The financial package is expected to target essential sectors, including energy, infrastructure, and economic modernization, to propel Liberia’s development goals.
“This support will enhance our ability to build modern infrastructure, improve access to electricity, and create an economy that works for all Liberians,” the President remarked.
President Boakai stressed that the achievement was the result of collective national efforts and urged citizens to remain united in leveraging the opportunity. He emphasized that the grant reflects Liberia’s determination to overcome challenges and achieve lasting progress.
“This accomplishment shows what we can achieve together when we prioritize reform and progress. It’s a moment for us to celebrate and renew our commitment to building a brighter future,” he noted.
The President assured the public that more information on the program’s implementation would be shared in the near future and called for collaboration in ensuring the compact’s success.
