Millennium Challenge Corporation Eligibility Expansion Act

Floor Speech

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Mrs. KIM of California. Madam Speaker, I rise in support of this bill, and I yield myself such time as I may consume.

Madam Speaker, I was proud to introduce the Millennium Challenge Corporation Eligibility Expansion Act along with my Democratic colleague from Texas, Mr. Castro.

In the nearly 20 years since its founding under President Bush, the Millennium Challenge Corporation has demonstrated a strong track record of success in its mission of combating poverty through economic growth.

The agency has enjoyed broad bipartisan support, earned through strict project selection criteria and the ability to hold partner countries to a high standard of accountability. But the agency and its partners are facing new challenges. The Chinese Communist Party is increasing its malign influence in the developing world, often disguised as development assistance. The world is facing a food security crisis and other effects of Russia's unprovoked war in Ukraine.

Many countries risk losing progress on development and poverty reduction made over previous decades. This bill will ensure that the world's 125 poorest countries are eligible for potential consideration as candidate countries in the MCC's rigorous selection process. It adds stability to MCC's partnerships, and it ensures its ability to focus on the world's poorest populations, who are often the most vulnerable to debt traps and other forms of outside manipulation.

This bill is an important step towards equipping MCC to operate in today's environment so, that it can continue to use its proven, evidence-based model to build sustainable economic growth, transparency, and stability in partner countries around the world.

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Mrs. KIM of California. Madam Speaker, the Millennium Challenge Corporation has done important work on behalf of the American people to promote economic growth and transparency around the world. But we must make sure that the agency is equipped to address the challenges and threats of today, including those posed by our strategic rivals who are attempting to increase their global influence.

Madam Speaker, I, again, thank the gentleman from Texas (Mr. Castro), my colleague, our bipartisan cosponsors, and Chairman Meeks and Ranking Member McCaul of the Committee on Foreign Affairs for moving this bill forward.

Madam Speaker, I urge support for the bill, and I yield back the balance of my time.

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