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H.Doc.108-38 AN AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE KINGDOM OF ...


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108th Congress, 1st Session - - - - - - - - - - - - - House Document 108-37


 
     LEGISLATIVE PROPOSAL FOR THE MILLENNIUM CHALLENGE ACT OF 2003

                               __________

                             COMMUNICATION

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              transmitting

 A LEGISLATIVE PROPOSAL TO ESTABLISH THE MILLENNIUM CHALLENGE ACCOUNT 
                AND THE MILLENNIUM CHALLENGE CORPORATION

[GRAPHIC] [TIFF OMITTED] TONGRESS.#13


February 11, 2003.--Referred jointly to the Committees on International 
  Relations, Ways and Means, the Judiciary, Resources, and Government 
                    Reform and ordered to be printed
To the Congress of the United States:
    I am pleased to transmit a legislative proposal to 
establish the Millennium Challenge Account and the Millennium 
Challenge Corporation. Also transmitted is a section-by-section 
analysis.
    The Millennium Challenge Account (MCA) represents a new 
approach to providing and delivering development assistance. 
This new compact for development breaks with the past by tying 
increased assistance to performance and creating new 
accountability for all nations. This proposal implements my 
commitment to increase current levels of core development 
assistance by 50 percent over the next 3 years, thus providing 
an annual increase of $5 billion by fiscal year 2006. To be 
eligible for this new assistance, countries must demonstrate 
commitment to three standards--ruling justly, investing in 
their people, and encouraging economic freedom. Given this 
commitment, and the link between financial accountability and 
development success, special attention will be given to 
fighting corruption.
    The goal of the Millennium Challenge Account initiative is 
to reduce poverty by significantly increasing economic growth 
in recipient countries through a variety of targeted 
investments. The MCA will be administered by a new, small 
Government corporation, called the Millennium Challenge 
Corporation, designed to support innovative strategies and to 
ensure accountability for measurable results. The Corporation 
will be supervised by a Board of Directors chaired by the 
Secretary of State and composed of other Cabinet-level 
officials. The Corporation will be led by a Chief Executive 
Officer appointed by the President, by and with the advice and 
consent of the Senate. This proposal provides the Corporation 
with flexible authorities to optimize program implementation, 
contracting, and personnel selection while pursuing innovative 
strategies.
    The Millennium Challenge Account initiative recognizes the 
need for country ownership, financial oversight, and 
accountability for results to ensure effective assistance. We 
cannot accept permanent poverty in a world of progress. The MCA 
will provide people in developing nations the tools they need 
to seize the opportunities of the global economy. I urge the 
prompt and favorable consideration of this legislation.

                                                    George W. Bush.
    The White House, February 5, 2003.
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Pages: 1

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