Next week, the Millennium Challenge Corp. board will select countries that will receive compact assistance for fiscal year 2015.
U.S. President Barack Obama has requested $1 billion for MCC for fiscal 2015. If past MCC funding is any indication — it has been set at roughly $900 million annually from fiscals 2011 to 2014, down from its peak of $1.75 billion in 2007 — then the appropriated amount by Congress will likely be lower than Obama’s request.
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About the author
Anna Patricia Valerio
Anna Patricia Valerio is a Manila-based development analyst focusing on writing innovative, in-the-know content for senior executives in the international development community. Before joining Devex, Patricia wrote and edited business, technology and health stories for BusinessWorld, a Manila-based business newspaper.