S 1240
Millennium Challenge Corporation Candidate Country Reform Act
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Bill overview
This bill changes the requirements for countries to be considered candidates for assistance from the Millennium Challenge Corporation (MCC). Currently, a country must have a per capita income below a certain level to qualify. The bill raises this threshold, basing eligibility on a country’s per capita income being equal to or less than the World Bank’s threshold for initiating the International Bank for Reconstruction and Development graduation process. This change aims to broaden the pool of eligible nations for MCC assistance and align with the World Bank’s approach to supporting developing countries’ economic progress.
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