July 23, 2007

Poverty reduction grant signed with USA

Chief Executive Officer of the Millennium Challenge Corporation (MCC), Ambassador John Danilovich, and Lesotho's Minister of Foreign Affairs and International Relations Mohlabi Kenneth Tsekoa have signed a $363 million Compact designed to reduce poverty by promoting sustainable economic growth.
The five-year Millennium Challenge Compact with Lesotho aims at increasing water supplies for industrial and domestic use, at mitigating the devastating affects of poor maternal health, HIV/AIDS, tuberculosis and other diseases, and at removing barriers to foreign and local private sector investment. By 2013, the Compact should benefit the majority of the population of 1.8 million. Several components of the programme should directly benefit women, including a training and public awareness activity designed to realize gender equality in economic rights and a health systems strengthening activity that should improve the delivery of essential health services, largely maternal and child health and HIV/AIDS treatment. The Compact shall also benefit the Basotho people by improving access to clean water and sanitation, improving access to credit and other financial services, modernizing the land administration system, and promoting sustainable water resource management, as the official MMC statement reads.
Since its inception in 2004, MCC has signed Compacts totaling nearly $4 billion with 13 partner countries: Madagascar, Cape Verde, Honduras, Nicaragua, Georgia, Armenia, Vanuatu, Benin, Ghana, Mali, El Salvador, Mozambique, and Lesotho. (United States Millennium Challenge Corporation, Washington, DC)

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