//Isakson Applauds Senate Passage of Legislation to Modernize ‘African Growth and Opportunity Act,’ Millennium Challenge Corporation

Isakson Applauds Senate Passage of Legislation to Modernize ‘African Growth and Opportunity Act,’ Millennium Challenge Corporation

Share with friends

News Release from U.S. Senator Johnny Isakson:

WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., applauded the Senate passage of his bipartisan African Growth and Opportunity Act and Millennium Challenge Act Modernization Acton Monday.

The goals of the African Growth and Opportunity Act and the Millennium Challenge Corporation are to advance our diplomatic relationships, bolster national security and promote economic growth in Georgia and the United States as well as in developing countries, while ensuring our foreign assistance is effective and accountable.

“Strengthening the African Growth and Opportunity Act and the Millennium Challenge Corporation will help improve transparency, accountability and results,” said Isakson, chairman of a Senate Foreign Relations subcommittee that oversees bilateral international development. “I have long supported our development assistance because it helps improve diplomacy and bolster our security. I’m pleased that we will now have these additional tools. I look forward to the president signing the bill into law.”

Isakson’s legislation allows flexibility for the Millennium Challenge Corporation to establish concurrent compacts in eligible developing countries to promote economic growth and cross-border engagement between nations.

The bill also aims to accelerate the impact of the African Growth and Opportunity Act, which offers duty-free access to the U.S. market for certain exports from eligible sub-Saharan African countries, by requiring the State Department to better promote the program with sub-Saharan African governments and businesses.

Isakson introduced the African Growth and Opportunity Act and Millennium Challenge Act Modernization Act on April 5, 2017, along with Senators Ben Cardin, D-Md., and Chris Coons, D-Del. It passed the Senate Committee on Foreign Relations on Oct. 6, 2017.  

The U.S. House of Representatives passed its version of the bill, H.R.3445, introduced by Rep. Edward Royce, R-Calif., on Jan. 17, 2018.

The legislation now moves to the president’s desk to be signed into law.