Protest against MCC budget cut grows

The Initiative for Global Development is supporting the campaign of the Millennium Challenge Corporation to convince the U.S. Senate to reverse its decision to trim the agency’s FY08 budget by USD525 million. “The MCC is the only U.S. government agency tasked with fostering the long-term economic development of well-governed poor countries. With its emphasis on country ownership, increased transparency, and measurable results, it is the most forward-thinking and innovative development initiative in our foreign assistance portfolio,” the IGD – a coalition of U.S. business leaders – wrote in its letter to the Senate. “We urge you to restore the MCC’s FY08 funding during the final negotiations on the emergency supplemental in order to preserve the U.S. commitment to reducing poverty through promoting long-term economic development.” Aside from the IGD, The Center for Global Development, InterAction, and the U.S. Global Leadership Campaign also voiced their disapproval over the Senate move. (Press release: Leading International NGOs, Think Tanks and Senators join President Bush in Support of Full Funding for MCC/Millennium Challenge Corporation)

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