US agency awards Ecuador major development grant, selects Bolivia and Guatemala for smaller programs

LA PAZ, Dec 19 (Reuters) - Three Latin American countries won backing from the U.S. Millennium Challenge Corporation for new economic development programs, the independent U.S. agency said on Friday, as Washington deepens ties in the Western Hemisphere through grants designed to spur growth and strengthen investment climates.

• The MCC chose Ecuador for a compact program - large grants designed to fund significant economic growth projects - and chose Bolivia and Guatemala for smaller threshold programs.

• Ecuador was chosen in recognition of strong U.S.-Ecuador ties and the country's notable progress toward fiscal stability.

• Bolivia was selected for its new economic direction and interest in strengthening its investment climate to encourage private sector-led growth, the MCC said.

• Guatemala was chosen to based on the success of a prior MCC threshold program and renewed focus on economic modernization, the agency said.

• "These selections underscore the opportunities to deepen our partnerships close to home," said Deputy Secretary of State Christopher Landau, who presides over the MCC Board.