Sec. 2. Findings
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/bill/119/hr/7644/ih/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress finds the following: The Millennium Challenge Corporation is an independent United States Government agency that delivers results-driven foreign assistance, using a transparent, data-driven model rooted in good governance, economic freedom, and investment in people to advance America’s economic and strategic interests. Strategic competitors of the United States, including the People’s Republic of China, the Russian Federation, and the Islamic Republic of Iran, increasingly deploy state-directed finance, infrastructure development, and resource investments to gain long-term political and economic leverage in developing countries.
The global supply of critical minerals is increasingly concentrated, opaque, and vulnerable to coercion by strategic competitors of the United States, creating risks to United States national security, energy security, and advanced manufacturing. The Millennium Challenge Corporation’s tools, including grant-based financing, policy reform conditionality, and high governance standards, are well-suited to addressing constraints in critical mineral supply chains, such as infrastructure gaps, regulatory weaknesses, and workforce development limitations.
Earlier and more systematic engagement by the Millennium Challenge Corporation with the United States private sector can improve project design, crowd in private capital, and strengthen economic ties between partner countries and the United States. The modernization of the Millennium Challenge Corporation should strengthen, not dilute, its core development mission and independence.