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Diane Publishing Books
Millennium Challenge Corporation
Curt Tarnoff (au)
On March 14, 2002, Pres. Bush outlined a proposal for a major new U.S. foreign aid initiative. The Millennium Challenge Corp. (MCC) provides assistance through a competitive selection process to developing nations that are pursuing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. The initial plan had been to fund the MCC annually at $5 billion by FY 2006, but this figure has never been reached. Contents of this report: (1) Most Recent Developments; (2) Overview; (3) Background; (4) Implementation; (5) Select Issues: Funding; Authorizing Legislation and Reform; Compact Size; Speed of Implementation; Sectors; Impact; Changing Costs; Role of USAID.
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