The Millennium Challenge Corporation (MCC) has released the fiscal year (FY) 2024 country scorecards, introducing notable improvements in education indicators.
These scorecards play a pivotal role in MCC’s competitive country selection process, determining eligibility for a five-year grant agreement known as a compact in FY 2024.
Out of the 80 country scorecards evaluated by MCC, 25 countries successfully met the criteria, while 55 did not.
The publicly available FY24 scorecards on MCC’s website feature 20 independent, third-party indicators assessing a country’s policy performance in economic freedom, just governance, and investment in people.
In a move to bolster education assessments, MCC implemented two changes to the FY24 scorecards.
Firstly, higher standards for girls’ education were set by replacing the indicator on girls’ enrollment in lower secondary school with one focusing on girls’ completion of lower secondary education.
Additionally, the indicator measuring government expenditures on primary education was replaced with a comprehensive indicator covering expenditures for all education levels.
MCC’s Board of Directors, scheduled to select new partner countries annually in December, bases its decisions on policy performance, poverty reduction potential through economic growth, and funding availability. Only low- and lower-middle-income countries, classified by the World Bank, receive scorecards.
Employing a competitive, data-driven, and transparent process, MCC sets stringent criteria for countries seeking compact funding.
To be eligible, countries must pass at least 10 of 20 indicators, including one from each category, and meet “hard hurdles” such as the Political Rights or Civil Liberties indicator and the Control of Corruption indicator.
MCC’s commitment to rigorous eligibility criteria and a competitive selection process serves as a catalyst for countries worldwide to enact policy reforms, fostering economic growth even before receiving program funding – a phenomenon known as “The MCC Effect.”
Established in 2004, MCC is an independent U.S. government agency dedicated to reducing global poverty through economic growth, providing time-limited grants and assistance to countries meeting stringent standards for governance, anti-corruption efforts, and democratic rights.