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Millennium Challenge Corporation CEO Daniel Yohannes Featured on “African Voices”
CNN International’s weekly television program “African Voices” recently profiled DanielYohannes, Chief Executive Officer of the Millennium Challenge Corporation (MCC). The program follows Yohannes from his beginnings in Addis Ababa, Ethiopia to becoming CEO of MCC, where he has vowed to help other countries willing to help themselves.
In the program, Yohannes discusses MCC’s initiatives and successes, as well as the organization’s selection process for countries around the world. He notes that he first came to the U.S. with absolutely nothing, and is immensely grateful and lucky to be a part of the MCC because he wants to help struggling countries become self-sufficient.
Yohannes explains that the MCC cannot provide funds to every country, and that the priority must be to help those countries who want to help themselves.
“There are about 95 or so countries that are considered low to middle income countries that are, in effect, poor,” stated Yohannes. “Once we received the policy indicators then we decide which countries are eligible for our program. Once we are provided with the proposed project we do a very thorough analysis to make sure that they have a very good economic rate of return. So it is just like a business,” Yohannes said.
“To give you an example of our $8 billion investments: $5.2 billion are invested in the continent of Africa. We work with about 11 different countries. Out of that $5.2 billion, 65 percent of the funds are invested in agriculture and infrastructure, which are a key battle for trade and sustainable economic growth.”
Yohannes has used the key concepts of independency, sustainable security and economic growth as a foundation to build the MCC into a global support network for the world’s poorest countries by using specific selection criteria including good governance, economic freedom, and investments in their citizens.
Find out more about the Millennium Challenge Corporation.