THE Millennium Challenge Corporation (MCC) and the Government of Fiji have signed a Compact Development Funding Agreement, marking a new chapter in economic cooperation between the two nations.
The agreement, signed by US Deputy Secretary of State Christopher Landau and Fiji’s Minister for Finance, Commerce, and Business Development Esrom Immanuel, will support joint technical work to design projects aimed at strengthening Fiji’s economy and increasing US trade and investment.
“This is more than an agreement, it’s a catalyst for prosperity,” said Deputy Secretary Landau. “By working with Fiji, we aim to drive investment, open new markets for American companies, and lay the foundation for a free and open Indo-Pacific.”
Minister Immanuel welcomed the agreement, highlighting Fiji’s commitment to good governance and economic growth. “Together, we will tackle key development challenges and create lasting benefits for Fijians,” he said.
MCC’s Board selected Fiji as eligible for compact development in August last year, recognising the country’s economic reforms and its crucial role as a regional hub.
MCC compacts are five-year agreements focused on tackling barriers to economic growth.
The funding agreement will launch a data-driven process to design priority projects. These are expected to focus on improving the business environment, developing infrastructure, and modernising critical systems to lower costs and reduce investment risk.
MCC’s presence in the Pacific is growing, with programs in Solomon Islands, Kiribati, and Tonga, and a completed project in Vanuatu.
The corporation has committed nearly $USD155 million to support Pacific Island economies and connect them to global markets.