Millenium Challenge Corporation

the mcc supposedly was bush's way around the entrenched bureaucracy of usaid (u.s. agency for international development) which, despite the best of intentions, often shoots itself in the foot... (having done some work with usaid projects, i speak from experience...) however, as with so many of bushco's "big ideas," the reality leaves a great deal to be desired...

It took five African presidents to get President Bush to finally face up to the dismal performance of his flagship program to promote development in poor countries. Within days, the White House reported the resignation of Paul Applegarth, the chief executive of the Millennium Challenge Corporation, who, with an entire world of poverty, disease and wretchedness to consider, managed to find only two countries worthy of aid.

[...]

To see just how badly the Millennium Challenge program has performed, compare it to the Fast Track Initiative for financing education, which is run out of the World Bank. . . . Since then, the Millennium Challenge program has signed contracts to give money to only two countries: $108 million to Madagascar and $215 million to Honduras. The program's board recently approved two more, Nicaragua and Cape Verde. Through the Fast Track program, rich countries have actually given money to 12 countries. During the first three years, donors shifted about $905 million in foreign aid to the qualifying countries for primary education; this year the 12 countries will get an additional $350 million.

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