The Millennium Challenge Corporation is moving forward
This week, leaders from almost 50 countries across Africa are in Washington, D.C., for a summit that seeks to strengthen ties between their countries and the United States. It is also a chance to take stock of a small government agency that, for ten years now, has played a key role in connecting the United States to Africans and African markets.
It has been a decade since I worked in Congress to pass the legislation creating the Millennium Challenge Corporation. MCC represented a new approach to foreign assistance, and not everyone was confident of its success. It was designed with the singular mission, to reducing poverty by creating economic growth, and the model of assistance included selectivity, a business-like approach to choosing investments, a willingness to put partner countries in the driver's seat of development choices and a rigorous commitment to transparency and accountability. The approach sounded good in concept– but would it work?
Jim Kolbe is a Senior Transatlantic Fellow at the German Marshall Fund of the United States and a former member of the U.S. House of Representatives.