MCC Board Approves Philippines Threshold Program to Unlock Growth

WASHINGTON (June 25, 2026) - The Millennium Challenge Corporation (MCC) Board approved the Philippines Threshold Program at its June 24 meeting.

The program is designed to assist the Government of the Republic of the Philippines to address the high cost and unreliability of power and will help modernize energy sector governance. The program builds upon whole-of-government efforts in the energy sector and fills critical gaps that will enable energy sector investment, strengthen energy-sector institutions, and expand opportunities for American commercial engagement.

"The approval of the Philippines Threshold Program reflects the strength of the U.S.-Philippines partnership and our shared commitment to expanded economic opportunity and mutual prosperity" said Christopher Landau, Deputy Secretary of State who also presides over the MCC Board of Directors. "By strengthening energy security, this program will help unlock U.S. private-sector investment and support lasting, broad-based growth across the Philippines."

The Board also discussed MCC's updated approach to country selection and eligibility, which supports the Board in identifying candidate countries where MCC's unique form of assistance can have the greatest impact in unlocking growth and delivering economic and strategic returns to both U.S. taxpayers and our partner countries.

Building on this foundation, the Board also discussed MCC's expanding efforts to engage the U.S. private sector during program development and implementation. MCC's approach integrates private-sector insights and opportunities into its programs, ensuring that measurable benefits to the U.S. are achieved alongside development impact. This includes improving business environments for U.S. firms, supporting increased U.S. exports, and helping diversify and secure critical supply chains.

The Board will continue to provide strategic direction as MCC advances its mission. Over the past two decades, MCC has invested more than $17 billion across 76 programs in infrastructure, policy reform, and institutional strengthening-creating stronger market conditions and unlocking private investment in partner countries.

The Millennium Challenge Corporation is an independent U.S. Government agency focused on unlocking growth through results-driven foreign assistance. MCC's grants support large-scale infrastructure, strategic reforms, and economic modernization. MCC advances America's economic and strategic interests by delivering measurable returns to both recipients and U.S. taxpayers-expanding commercial opportunities for U.S. businesses, reducing the influence of competitors, and reinforcing global environments aligned with American values.

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