The Millennium Challenge Corporation (MCC) has entered into a Compact Development Funding Agreement with the Government of Fiji, signifying an important advancement in economic collaboration between the United States and Fiji. The agreement was formalized by US Deputy Secretary of State Christopher Landau and Fiji’s Minister for Finance, Commerce, and Business Development Esrom Immanuel.
This funding arrangement aims to bolster technical work for the design of projects intended to fortify Fiji’s economy while enhancing US trade and investment opportunities. Deputy Secretary Landau expressed optimism about the partnership, stating, “This is more than an agreement, it’s a catalyst for prosperity.” He emphasized the goal of driving investment, creating new market opportunities for American businesses, and establishing a framework for a free and open Indo-Pacific region.
Minister Immanuel acknowledged the significance of the pact, reaffirming Fiji’s dedication to good governance and sustained economic growth. He stated, “Together, we will tackle key development challenges and create lasting benefits for Fijians.”
Fiji was selected by the MCC’s Board as eligible for compact development in August last year due to its economic reforms and vital role as a regional hub. MCC compacts are typically five-year agreements that focus on overcoming barriers to economic progress.
The newly signed funding agreement will initiate a data-driven approach to prioritize and design essential projects. These projects are anticipated to target improvements in the business ecosystem, infrastructure development, and modernization of critical systems, ultimately aimed at reducing costs and mitigating investment risks.
The MCC is increasingly active in the Pacific region, with ongoing programs in Solomon Islands, Kiribati, and Tonga, as well as a completed project in Vanuatu. The corporation has pledged nearly $155 million to foster economic growth among Pacific Island nations and connect them to global markets, illustrating a strong commitment to regional development and partnership.