MCC: an interesting development!
I wrote an article titled "Donor assistance: More theory than outcome" in the immediate past year and that was published on the editorial page of more than one leading English dailies in Bangladesh between 7 and 9 June 2003 (both days inclusive). One of the dailies published the article in two instalments under two different titles, "Impact of donor assistance" and "Utilising foreign assistance". In the article, I discussed, among other things, the need for donor assistance reforms and proposed in that respect the allocation of donor resources through a competitive process. I also identified in the same article the advantages of doing that.
It now appears from a recent report that the new US Millennium Challenge Corporation (MCC) will afford Bangladesh and 62 other countries an opportunity to compete for funds from a new foreign aid account. It is indeed an encouraging development.
Interesting though, the development is, in a sense, in line with my proposal concerning the reformation of donor assistance.
For all latest news, follow The Daily Star's Google News channel. It is hoped the MCC would be instrumental in optimising the outcome of the US assistance to the recipient countries and in improving the accountability of the latter in the pertinent area.
In fine, I would like to congratulate the US government for initiating the MCC.