This part describes the organization, functions and operation of the Millennium Challenge Corporation (MCC). MCC is a government corporation (as defined in 5 U.S.C. 103) established by the Millennium Challenge Act of 2003 (Pub. L. 108-199, 118 Stat. 211.) Information about MCC is available from its Web site, http://www.mcc.gov.

(a) MCC's Board consists of: (1) The Secretary of State, the Secretary of the Treasury, the Administrator of the United States Agency for International Development, the United States Trade Representative; and the Chief Executive Officer of the Corporation; and (2) four other individuals with relevant international experience from the private sector; appointed by the President with the advice and consent of the Senate.

(b) MCC's staff is comprised of the following administrative units:

(1) The Office of the Chief Executive Officer;

(2) The Department of Accountability;

(3) The Department of Administration and Finance;

(4) The Department of Congressional and Public Affairs;

(5) The Department of Operations;

(6) The Department of Policy and International Relations; and

(7) The Office of the General Counsel.

(a) MCC provides United States assistance for global development; and

(b) Provides such assistance in a manner that promotes economic growth and the elimination of extreme poverty and strengthens good governance, economic freedom, and investments in people.

In exercising its functions, duties, and responsibilities, MCC utilizes:

(a) MCC staff, consisting of specialized offices performing specialized, administrative, legal and financial work for the Board.

(b) Rules published in the Federal Register and codified in this title of the Code of Federal Regulations.

(c) Meetings of the Board of Directors conducted pursuant to the Government in the Sunshine Act or voting by notation as provided in section 1300.5(b).

(a) Quorum requirements. A majority of the members of the Board shall constitute a quorum, which shall include at least one private sector member of the Board.

(b) Voting. The Board votes on items of business in meetings conducted pursuant to the Government in the Sunshine Act.

The principal offices of the Millennium Challenge Corporation are located at 875 Fifteenth Street, NW., Washington, DC 20005-2221.