WASHINGTON, DC (August 17, 2005) — Paul V. Applegarth, the first chief executive officer of the Millennium Challenge Corporation (MCC), joined GMF’s Trade and Development program yesterday as a Senior Transatlantic Fellow. Mr. Applegarth comes to GMF from a distinguished career in the U.S. government, the World Bank, and the private sector.

Based in GMF’s headquarters in Washington, DC, Mr. Applegarth will work on ways to improve the delivery, efficiency, and impact of development assistance and foreign aid to developing countries. He will also examine how the United States and Europe can better coordinate trade and development policies while mobilizing public- and private-sector resources.

“I am very excited to be a part of GMF’s Trade and Development team,” Mr. Applegarth said. “We will be looking at improving the results of government-to-government programs and how they can be more effective catalysts for trade and private investment.”

“Paul Applegarth’s knowledge and experience will help the German Marshall Fund take advantage of what we believe is a once-in-a-generation chance to better align policies to spur economic growth and to benefit millions of the world’s poor currently left outside of global markets,” remarked Craig Kennedy, GMF president. 

At CEO of the MCC, Mr. Applegarth spearheaded a strategy of assistance to countries that rule justly, invest in their people, and promote economic freedom — three prerequisites for sustainable growth and poverty reduction. Prior to that, he was managing director of Emerging Markets Partnership, an asset management firm that specializes in international private equity and debt investments in emerging markets. He previously served as chief operating officer of the Emerging Africa Infrastructure Fund, an innovative public-private sector initiative to develop infrastructure in sub-Saharan Africa, and has held several leadership positions in the private sector and the World Bank.

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The German Marshall Fund of the United States (www.gmfus.org) is a nonpartisan American public policy and grantmaking institution dedicated to promoting greater cooperation and understanding between the United States and Europe. Founded in 1972 through a gift from Germany as a permanent memorial to the Marshall Plan assistance, GMF maintains a strong presence on both sides of the Atlantic. In addition to its headquarters in Washington, DC, GMF has six offices in Europe: Berlin, Bratislava, Paris, Brussels, Belgrade, and Ankara.

Based in GMF’s offices in Washington, DC, and Brussels, and operating in partnership with the William and Flora Hewlett Foundation and the Rockefeller Foundation, the Trade & Development program is an initiative that aims to promote greater cooperation between the United States and Europe on domestic and international trade and agricultural policies as vital instruments of global prosperity.

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