Nicaragua, Millennium Challenge Compact

United States and Republic of Nicaragua to Sign $175 Million Millennium Challenge Compact

Secretary of State Condoleezza Rice, Chair of the Board of the Millennium Challenge Corporation, will make remarks at the signing of the Millennium Challenge Compact between the United States and the Republic of Nicaragua, on Thursday, July 14, 2005, at 4:15 p.m., in the Benjamin Franklin Room.

Republic of Nicaragua President Enrique Bolaños, U.S. Trade Representative Rob Portman and Millennium Challenge Corporation Chief Executive Officer Paul V. Applegarth will also make remarks. Mr. Applegarth and Republic of Honduras Foreign Minister Norman Caldera will sign the Compact.

The $175 million, five-year Compact with Nicaragua aims to increase investment by strengthening property rights; reduce transportation costs and improving access to markets for rural communities; and increase profits and wages from farming and related enterprises in the region.

This event will be open to the press.

Pre-set time for cameras: 3:15 p.m. from the 23rd Street entrance.

Final access time for all press: 3:50 p.m. from the 23rd Street entrance.

Media representatives may attend this briefing upon presentation of one of the following: (1) a U.S. Government-issued identification card (Department of State, White House, Congress, Department of Defense, or Foreign Press Center), (2) a media-issued photo identification card, or (3) a letter from their employer on letterhead verifying their employment as a journalist, accompanied by an official photo identification (driver’s license or passport).

Source; For further information, contact Davy Kong at (202) 521-3864. 2005/695, Released on July 13, 2005 Notice to the Press, Office of the Spokesman, Washington, DC

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