MCC and OECD Sign Strategic Partnership MOU

OCTOBER 27, 2020 -- The Millennium Challenge Corporate (MCC) and the Organziation for Economic Cooperation and Development (OECD) today announced the signing of a Memorandum of Understanding (MOU) identifying areas for strategic collaboration. Through this partnership, MCC and OECD will aim to strengthen development data and analysis in partner countries, maximize the impact of investments, and promote a more dynamic conversation around catalyzing public and private investment. 

The MOU establishes collaboration for analytical tools, processes and learning; advice on specific investments; coordination on development data and blended finance initiatives; and support for joint communciations.

''Our partnership with OECD demonstrates MCC's continued commitment to advancing world-class expertise and greater efficiency to deliver more impactful and more sustainable development outcomes'' said MCC's Vice President of Department of Compact Operations Anthony Welcher. ''This collaboartion will continue to maximize MCC programs in our efforts to reduce global poverty through economic growth.''

''Joining forces with MCC, the OECD and its Development Cluster - the Development Center, the Development Cooperation Directorate and the Sahel and West Africa Club - strenghten their contribution to inclusive growth, economic restructuring, poverty reduction and sustainable development,'' said the OECD's Deputy Secretary-General Jeffrey Schlagenhauf. ''This alliance is more critical than ever not only to unlock sustianable growth but also enhance well-being in developing and emerging economies.''

MCC and OECD previosuly initiated a partnership in 2017 to augment their diagnostic tools to provide analysis and data, leading to enhanced information for MCC investments decisions. For example, working with the Government of Tunisia, MCC and OECD created the Competition Assessment toolkit that identifies barriers to competition within sectors that have the greatest potential to drive economic growth. Following collaborations in Cote d'Ivoire and Senegal, in 2019, both MCC and the OECD's Development Center joined the Country Diagnostics Platform to share best practices and further develop methodologies for indentifying constraints to growth and development.

MCC and OECD will continue their strategic collaboration for sharing data to inform investment decisions and advancing reforms to facilitate the right investment environment to unlock economic growth in partner countries.

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The Millennium Challenege Corporation is an independent U.S. Government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to poor countries that meet rigorous standards for good governance, from fighting corruption to respecting democratic rights. 

The Organisation for Economic Co-operation and Development (OECD) is an international organisation in which governments work together to come up with solutions to common problems, develop global standards, share experiences and identify best practices to promote better policies for better lives around the world. 

Millennium Challenge Corporation
Contact: 202-521-3880
Email: press@mcc.gov

OECD - Organisation for Economic Cooperation and Development 
Contact: Henri-Bernard Solignac-Lecomte
Email:  Henri-Bernard.SOLIGNAC-LECOMTE@oecd.org