H.R. 8463 · 117th Congress
Millennium Challenge Corporation Eligibility Expansion Act
- Stage
- Passed a chamber
- Sponsor
- Joaquin Castro
- Introduced
- 2022-07-21
- Latest action
- 2022-10-11 · Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Summary
Millennium Challenge Corporation Eligibility Expansion Act
This bill modifies income-related eligibility requirements for assistance from the Millennium Challenge Corporation (MCC), a program that provides assistance through a competitive selection process to eligible developing countries based on various factors, including a country's level of economic freedom and effectiveness of government.
Currently, to be a candidate to receive MCC assistance, a country must, among other requirements, must (1) fit the World Bank's income-based criteria for a low- or lower-middle-income country, or (2) be among the 75 lowest per capita income countries according to the World Bank. Under this bill, a candidate country must have a gross national income per capita no higher than the 125th poorest country as identified by the World Bank for the fiscal year.