MCC compacts: Where is the money going?

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.