Jim Webb Writes to the MCC
Last Friday, Millennium Challenge Corporation (MCC) CEO Daniel Yohannes responded to concerns raised by Senator Jim Webb (D-VA) stemming from a Reuters report that China’s Sinohydro Corporation signed a contract with Mali to build a new airport for the capital, a $71.6 million project financed by the MCC. Senator Webb requested that the MCC cancel projects awarding contracts to Chinese state-owned enterprises, saying that “at a time when our economy is struggling to recover, I am concerned that the funding of Chinese state-owned companies with U.S. taxpayer dollars harms American business, foreign policy, and development interests abroad.” Mr. Yohannes responded by pointing out that U.S. companies have won 77 percent of contracts administered by the MCC. He highlighted the U.S. government’s commitment to progressively “untie” aid—“to not require that the procurement of goods and services be limited to the donor country” – which encourages other countries to do the same and promotes competition among business. “Like you, MCC wants to see American companies compete successfully in emerging and frontier markets where the agency operates,” Yohannes wrote.
