WASHINGTON, 17 June 2020 / PRN Africa / -- On June 17, the Millennium Challenge Corporation (MCC) Board of Directors approved a compact for Burkina Faso, bringing the total value of MCC assistance to Burkina Faso to nearly $1 billion since 2008.

The MCC provides highly impactful, life-changing development work. The Board's approval of the Burkina Faso compact highlights the Government of Burkina Faso's dedication to standards, economic development, and impactful reform. The MCC's work is an example of the American people's generosity and commitment to results.

The Government of Burkina Faso and the MCC developed the compact to address the most binding constraints to Burkina Faso's economic development. MCC funding under the compact is provided as a grant to the government and does not add any debt.

As an independent U.S. government agency, the MCC provides grants based on sound data and analytics that take into account a country's commitment to good governance, fighting corruption, and democratic rights. This methodology ensures American funding creates lasting development impact in developing countries. The work of the MCC promotes growth, stability, and opportunity.

SOURCE US Department of State