Embassy Events 2007
Entry into Force of U.S. - Mali Millennium Challenge Account Compact
The U.S. Embassy in Bamako, Mali is pleased to announce the entry into force as of September 17, 2007 of the five-year, $460.8 million Millennium Challenge Account Compact to reduce poverty and increase economic growth in the Republic of Mali. All legal, regulatory and institutional arrangements have been established and supplemental agreements signed for Compact implementation. Entry into force indicates that the full compact funding has been obligated and will be available for the Compact programs. This entry into force begins the five year time frame set for realization of the ambitious compact goals.
This is an important first step in the realization of the Millennium Challenge Account goal of reducing poverty through economic growth by increasing production and productivity of agriculture and small- and medium-sized enterprises, as well as expanding Mali’s access to markets and trade. These investments will support the development of key infrastructure and policy reform for productive sectors, by addressing the country’s constraints to growth and capitalizing on two of Mali’s major assets, the Bamako-Sénou International Airport, gateway for regional and international trade, and the Niger River for irrigated agriculture. (more)