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The Millennium Challenge Corporation's (MCC) Board of Directors met on June 30 and voted unanimously to approve a $498.7 million compact with the Government of Tunisia to strengthen Tunisia's transportation, trade, and water sectors.
The MCC-Tunisia Compact, a five-year grant program, includes projects designed to make trade with Tunisia easier and less expensive by investing in the management, expansion, and digitization of the Port of Rades, as well as improve the management and conservation of the country's groundwater resources.
"The MCC-Tunisia Compact is a timely and important result of the deep and growing partnership between the United States and Tunisia," said USAID Administrator Samantha Power. "The Compact also constitutes an affirmation of Tunisia's commitment to constitutional democratic governance and equitable prosperity at a critical time in Tunisia and the broader region."
MCC has signed a memorandum of understanding (MOU) with the governments of Burkina Faso and Côte d'Ivoire as part of its new regional energy interconnection program that is designed to strengthen market integration between the two countries and the West African energy sector.
For emerging and developing economies to meet their energy development and net-zero climate goals,tens of trillions of dollars in investment will be required. We have identified five broad areas that can be addressed to lower these obstacles, and thus help stimulate investment.
The International Development Association (IDA) will provide an additional financing of $36 million (about CFA20 billion) to Benin and Togo, to help them combat coastal erosion. The disbursement was approved on June 21 by the World Bank.
The World Bank Group announced its new Climate Change Action Plan that aims to deliver record levels of climate finance to developing countries, reduce emissions, strengthen adaptation, and align financial flows with the goals of the Paris Agreement.
Future Europe Sustainable Europe, July 5 MCC Deputy CEO Alexia Latortue will give a keynote address on how MCC is addressing the impact of the pandemic head-on, emphasizing our strategic goals - climate, gender and inclusion, and catalyzing the private sector - to an audience of international bankers, ministers, and leaders of private organizations. U.S.-Africa Business Summit 2021, July 27-29 MCC Deputy CEO Alexia Latortue will speak on a panel entitled "Infrastructure Development: Catalyst for Economic Reboot" at the U.S.-Africa Business Summit 2021 focused on the rapidly evolving models for business and investment in the continent's most pressing sectors.
