WASHINGTON, June 26, 2013 /PRNewswire-USNewswire/ -- President Barack Obama invited MCC CEO Daniel W. Yohannes to join him on his trip to Africa, where the president is expected to meet with leaders from government, business and civil society to reinforce U.S. commitment to expanding economic growth, investment and trade; strengthening democratic institutions; and investing in the next generation of African leaders.
Yohannes will join the president in Senegal on June 27-28 and in Tanzania on July 1-2. MCC has signed five-year compacts with each country—totaling more than $1.2 billion—with the aim of reducing poverty, stimulating economic growth and attracting private sector investment.
The $540 million Senegal Compact seeks to unlock the country's agricultural productivity and expand access to markets and services through improved roads and irrigation systems. The $698 million Tanzania Compact seeks to increase household incomes and raise the quality of life through investments in the country's transportation, energy and water sectors.
SOURCE Millennium Challenge Corporation