Lesotho is among the 16 countries declared eligible to apply for Millennium Challenge Account (MCA)
assistance in the financial year 2004, according to a statement issued in Washington by the Millennium Challenge Corporation (MCC) Board of Directors on May 8.

The MCC Board made its determination considering both past and current policy performance of the candidate countries in the areas of governance, investing in their own people and promoting economic freedom,  and also considered trends that indicated policy improvement or slippage, the statement said.

It said according to United State (US) Secretary of State and Chair of MCC Board Mr. Colin L. Powell,   the decision is major step in implementing the MCC vision. The Millennium Challenge Corporation's mission "encourages and rewards good policies that produce sustainable economic growth, and therefore holds profound implications for freedom and security across the globe".

The Millennium Challenge Corporation is a newly created US Government corporation designed to
work with some of the poorest countries in the world. It is based on the principle that aid is most effective when it reinforces sound political, economic, and social policies that promote economic growth.

The US is committed to the MCC as an innovative approach to delivering foreign aid and as thus  Congress appropriated  $1billion for the Corporation for this financial year with President George W.Bush  requesting $2.5billion for the financial year 2005, according to the statement.

The eligible countries include Armenia, Benin, Bolivia, Cape Verde, Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia, Mozambique, Nicaragua, Senegal, Sir Lanka and Vanuatu.
 

07 May 2004