Saturday

The Millennium Challenge Account

President Bush called for "a new compact for global development, defined by new accountability for both rich and poor nations alike. Greater contributions from developed nations must be linked to greater responsibility from developing nations." The President pledged that the United States would lead by example and increase its core development assistance by 50 percent over the next three years, resulting in an annual increase of $5 billion by FY 2006.
[ Source... ]


The Board of Directors of the Millennium Challenge Corporation (MCC) voted Thursday to make 16 countries "eligible" for Millennium Challenge Account (MCA) assistance this year. The eight that are in Africa include Benin, Cape Verde, Ghana, Lesotho, Madagascar, Mali, Mozambique and Senegal.

[...]

A total of 16 indicators was used to select the 16 countries invited to apply for assistance. The indicators are grouped in three categories - 'ruling justly', 'investing in people' and 'economic freedom'. In addition, to receive MCA assistance this year, countries must have less than US$1,415 in average per capita income, which eliminates several countries on the continent, including Botswana, Namibia and South Africa
[ Source... ]