Timor-Leste, US Millennium Challenge Corporation to Sign $484mln Agreement Aimed at Reducing Poverty Featured

By The Independente July 14, 2022 564

DILI: Timor-Leste officials and United States government agency Millennium Challenge Corporation (MCC) representatives will sign a $484 million five-year support agreement on 19 July that is aimed at reducing poverty in Timor-Leste through economic growth.

The compact agreement with the MCC will be signed by the Minister of the Presidency of the Council of Ministers, Fidelis Magalhães and the Vice-President of the MCC, Cameron Alford, in a ceremony that will take place at the Ministry of Foreign Affairs and Cooperation.

The investment will focus on two main projects, one for the improvement of the water, sanitation and drainage system and the other in the area of ​​education and training. 

The first includes treating water, sewage, drainage systems, strengthening institutions and regulatory bodies, and creating a solid supply of water and sewage for domestic use, according to a government statement.

The second will include a New Centre of Excellence for the training of new teachers that will guarantee standards of quality and leadership.

Of the signed agreement, an estimated total of US$484 million, US$420 million will be provided by the MCC and the Government of Timor-Leste will contribute US$64 million.

The amount to be made available by Timor-Leste will be allocated only to the water, sewage and drainage treatment project, of which 34 million will be used to connect households and deactivate existing septic tanks. 

The remaining 30 million will be used to support the installation of the conventional system and for the installation of water pumps.

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