[13 September 2007]

WASHINGTON, (Saba)- Millennium Challenge Corporation (MCC) has approved to grant Yemen $20.6 million to support the financial reforms undertaken by the Yemeni government, said MCC Fact Sheet about Yemen.

The Fact Sheet published September 12 said the two-year $20.6 million grant by MCC to Yemen is designed to improve Yemen's performance on MCC's rule of law, control of corruption, political rights, fiscal policy and government effectiveness indicators.

MCC hailed significant reforms undertaken by Yemen since 2005, expressing pleased to support fruitful efforts of Yemen.

The board of MCC took the decision on Wednesday in a meeting headed by the board chairwoman of MCC and the US Secretary of State Condoleezza Rice. 

MCC had suspended Yemen from eligibility for Threshold Program assistance in 2005 but reinstated the country earlier this year after Yemen had achieved ambitious reforms to combat corruption and improve the rule of law, said MCC.

YA/NS


MCC