Georgia is the second-round candidate for the MCC compact
13 January, 2011
Georgia is the second-round candidate for the MCC compact

US government’s Millennium Challenge Corporation (MCC) selected Georgia along with Ghana as eligible to develop proposals for new compacts, the second for each country, on January 5, 2010. “This was the first MCC Board Meeting since President Obama announced the U.S. Global Development Policy in September,” said MCC Chief Executive Officer Daniel W. Yohannes. “MCC’s approach to development, which focuses on economic growth, country ownership, sustainability, and accountability, directly aligns with the President’s strategy.”
At the meeting, the Board selected Ghana

and Georgia as eligible to develop proposals for new compacts. These second compacts are contingent on successful completion of first compacts that is completed in spring of this year to Georgia. The Board did not outline the tentative sum of the upcoming compact to either country. According to Nika Mchedlishvili, Press Speaker of the Prime Minster of Georgia, the volume of the financial package will be defined later, most probably after Georgia will agree projects for the MCC compact with the US government.
What can be said at the moment is that part of the upcoming financing will very likely be spent on construction of a technical university in Batumi, the Black sea outlet of Georgia, and number of infrastructure projects. Mchedlishvili did not elaborate which projects.
“Construction of Batumi university roughly costs GEL 40-50 million, “he said. “Also after the university is completed it is supposed to be handed into the management of any of the US-based university, and this university will give the US state diplomas.”
Georgia got a USD 395.3 million worth five-year compact administrated by the Millennium Challenge Georgia Fund (MCG) in 2006. The compact  is designed to reduce poverty and stimulate economic growth in the  region via five projects as following: energy infrastructure rehabilitation project, regional infrastructure development project, Samtskhe-Javakheti road rehabilitation project, Agribusiness Development Activity (ADA), and Georgia regional development fund project.
The compact is scheduled to be completed by April of 2011 and MCC CEO [visiting Georgia in October to assess whether or not the money of US tax-payers is spent effectively] as well as Georgian government have already given a positive assessment to the project dubbing it as one of the most successful  international projects ever implemented in Georgia.
Non-governmental Economic Policy Research Center (EPRC) having been monitoring the MCG compact since the commencement of the project  fears however that fulfillment of the project in the negotiated terms is under threat [due to incompetent management of the now fired CEO of MCG.] EPRC presented it number fifth monitoring report on December 14, 2010 and stressed that due to postponed timetables the MCG project faced a USD 31 million loss ultimately. The MCG project had some transparency problems as well. And the compact hardly escaped a failure in this past summer. The new management could save the program.

 

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