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The Resource Millennium Challenge Account

Millennium Challenge Account

Contributor
Summary
In a speech on March 14, 2002, President Bush outlined a proposal for a major new U.S. foreign aid initiative. The Millennium Challenge Account (MCA) is managed by the Millennium Challenge Corporation (MCC) and provides assistance, through a competitive selection process, to developing nations that are pursing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. The MCC differs in several respects from past and current U.S. aid practices: * the competitive process that rewards countries for past and current actions measured by 16 objective performance indicators; * the pledge to segregate the funds from U.S. strategic foreign policy objectives that often strongly influence where U.S. aid is spent; and * the requirement to solicit program proposals developed solely by qualifying countries with broad-based civil society involvement. As announced by the President in March 2002, the initial plan had been to fund the MCC annually at $5 billion by FY2006, but this figure has not yet been reached. A growing question raised by some Members of Congress concerns the level of funding to support MCC programs. Some, noting that proposals received by the Corporation have totaled more than $4.2 billion, fear that insufficient funds might force the MCC to reduce the number of recipients or the size of the grants. Others, however, believe that the slower-than-anticipated pace of Compact agreements means that the Corporation has or will have enough resources, and have supported reductions in MCC budget requests
Language
eng
Work
Publication
Extent
36 pages
Note
CRS Report for Congress. The original document contains color images
Instance
Label
Millennium Challenge Account
Title
Millennium Challenge Account
Contributor
Subject
Language
eng
Summary
In a speech on March 14, 2002, President Bush outlined a proposal for a major new U.S. foreign aid initiative. The Millennium Challenge Account (MCA) is managed by the Millennium Challenge Corporation (MCC) and provides assistance, through a competitive selection process, to developing nations that are pursing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. The MCC differs in several respects from past and current U.S. aid practices: * the competitive process that rewards countries for past and current actions measured by 16 objective performance indicators; * the pledge to segregate the funds from U.S. strategic foreign policy objectives that often strongly influence where U.S. aid is spent; and * the requirement to solicit program proposals developed solely by qualifying countries with broad-based civil society involvement. As announced by the President in March 2002, the initial plan had been to fund the MCC annually at $5 billion by FY2006, but this figure has not yet been reached. A growing question raised by some Members of Congress concerns the level of funding to support MCC programs. Some, noting that proposals received by the Corporation have totaled more than $4.2 billion, fear that insufficient funds might force the MCC to reduce the number of recipients or the size of the grants. Others, however, believe that the slower-than-anticipated pace of Compact agreements means that the Corporation has or will have enough resources, and have supported reductions in MCC budget requests
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Tarnoff, Curt
  • LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE
http://library.link/vocab/subjectName
  • Developing nations
  • United states
  • Foreign aid
  • Congress
  • Economic development
  • Competition
  • Selection
  • Federal budgets
  • Government and Political Science
  • Geography
  • Economics and Cost Analysis
Label
Millennium Challenge Account
Instantiates
Publication
Note
CRS Report for Congress. The original document contains color images
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
36 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227919861
  • (OCoLC)ocn227919861
Label
Millennium Challenge Account
Publication
Note
CRS Report for Congress. The original document contains color images
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
36 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227919861
  • (OCoLC)ocn227919861

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