The Millennium Challenge Corporation was created under the Millennium Challenge Act of 2003 (Public Law 108-199, Div. D, Title IV). MCC is managed by a chief executive officer, who is part of the nine-member Board of Directors. The Secretary of State, the Secretary of the Treasury, the U.S. Trade Representative, and the USAID Administrator serve on the board along with four private sector representatives.
MCC forms partnerships with poor countries committed to good governance, economic freedom and investments in their citizens and provides these well-performing countries with large-scale grants to fund country-led solutions for reducing poverty through sustainable economic growth. MCC grants complement other U.S. and international development programs.
The aggressive implementation of compacts and threshold programs by the Millennium Challenge Corporation promotes growth opportunities, opens markets, raises the standard of living, and creates a more prosperous future for some of the world's poorest people.