Notice of Entering Into a Compact With the Government of the Kingdom of Morocco

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Millennium Challenge Corporation [MCC FR 07-10] AGENCY: Millennium Challenge Corporation. ACTION: Notice. SUMMARY: In accordance with Section 610(b)(2) of the Millennium Challenge Act of 2003 ( Pub. L. 108-199 , Division D), the Millennium Challenge Corporation (MCC) is publishing a summary and the complete text of the Millennium Challenge Compact between the United States of America, acting through the Millennium Challenge Corporation, and the Government of the Kingdom of Morocco. Representatives of the United States Government and the Government of the Kingdom of Morocco executed the Compact documents on August 31, 2007. Dated: September 12, 2007. William G. Anderson, Jr., Vice President & General Counsel, Millennium Challenge Corporation. Summary of Millennium Challenge Compact With the Government of the Kingdom of Morocco A. Introduction Over the past three decades, the Moroccan economy has grown slowly—from 1980 to 2006, per capita incomes only grew 1.5% annually. Despite recent macroeconomic stability, slow growth has left unemployment consistently high and extreme poverty remains around 11%. In this context, the Government (the “GoM”) of the Kingdom of Morocco (“Morocco”) launched a national growth strategy, the Plan Emergence, in 2005, which aims to “modernize and strengthen existing industrial sectors, and target investments in sectors such as textiles, agribusiness, fishing and the crafts industries, where the country has dome…