Submitted by MONTSAME on

President of Mongolia Mr Elbegdorj met Tuesday with Chief Executive Officer of the Millennium Challenge Corporation Ms Dana J. Hyde who is visiting Mongolia these days.
They exchanged views on some features of the second Millennium Challenge Corporation /MCC/ compact and the certain measures that should be taken by the Government of Mongolia.

Mongolia was selected by the United States Millennium Challenge Corporation’s Board of Directors as eligible to develop a second MCC compact in December 2014. Currently, MCC and Mongolian officials are conducting an analysis of the country’s economy and constraints to growth.

At the meeting, it was said that a working group has been formed by the Government of Mongolia to discuss the second MCC compact and a National working group has been formed to coordinate and implement the second MCC compact.
The MCC makes the compact contract with a few countries and imposes on them tough criteria. It is expected that about two years will take to formulate the contract, and that relevant projects will be realized within five years after signing the contract.

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