Devex President Raj Kumar and Rotary International CEO John Hewko wrote an insightful piece on the Millennium Challenge Corp. for The Washington Post. A few excerpts:
Those in Washington who work in global development speak in hushed tones nowadays, worried that after 10 years of bipartisan support for U.S. foreign assistance, foreign aid is about to be front and center on the debt commission’s chopping block. Nowhere are the concerns greater than at the Millennium Challenge Corp. (MCC), an innovative creation of the George W. Bush administration that is in an unusual position for a government agency: It has not spent its money fast enough.
The government “corporation” was established in 2004 on the premise that U.S. foreign assistance would have the greatest impact if offered on a non-political basis to developing countries that adopt sound economic and social policies. As such, it grants money for specific pro-growth, anti-poverty projects, but only after countries meet key indicators in areas such as control of corruption, rule of law and investment in health and education. Essentially, it fosters merit-based competition for U.S. foreign aid.
Read the full article at The Washington Post.
