(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Millennium Challenge Act of 2003 - (Sec. 2) Declares that the purposes of this Act are to provide U.S. assistance for global development through Millennium Challenge Contracts in a manner that: (1) promotes economic growth and the elimination of extreme poverty; and (2) strengthens good governance, economic freedom, and investments in people.
Title I: Millennium Challenge Assistance - (Sec. 101) Directs the Secretary of State to designate an appropriate Department of State officer, with the advice and consent of the Senate, to be Coordinator for the Millennium Challenge Account (established by this Act), who shall be responsible, among other things, for ensuring that assistance under this Act is coordinated with other U.S. economic assistance programs.
(Sec. 102) Authorizes the Secretary to provide assistance (excluding military assistance or training) to an eligible entity (government of an eligible country, a nongovernmental organization (NGO) or other private entity) to carry out projects aimed at reducing extreme poverty in an eligible developing country that enters into a Millennium Challenge Contract with the United States establishing a multiyear plan for achieving economic growth, good governance, economic freedom, and investments in its people.
(Sec. 104) Defines "eligible country" in terms of a country's commitment to democratic governance, economic freedom, and investment in its people (including educational opportunities and health care for all its citizens).
(Sec. 107) Sets forth certain information disclosure requirements.
(Sec. 108) Directs the President to report annually to Congress on the assistance provided under this Act during the prior fiscal year.
(Sec. 109) Authorizes the Secretary to provide assistance to a candidate country that meets certain conditions for the purpose of assisting it in becoming an eligible country.
Defines "candidate country" as a country that: (1) during FY 2004 is eligible to receive loans from the International Development Association (IDA); (2) during FY 2005 has a per capita income less than the historical per capita income cutoff of the IDA for that year; (3) is classified as a lower-middle-income country by the World Bank on the first day of a fiscal year after 2005 in which more than $5 billion has been appropriated to the Millennium Challenge Account; or (4) has a per capita income less than the historical per capita income cutoff of the IDA for any fiscal year after 2005 in which $5 billion or less has been appropriated to such Account.
Title II: The Millennium Challenge Account and Authorization of Appropriations - (Sec. 201) Establishes a Millennium Challenge Account for receipt of funds authorized to carry out this Act.
(Sec. 202) Authorizes appropriations for FY 2004 through 2006.