US EditionTrump kills US agency funding Africa infrastructure
- President Donald Trump's administration ordered the Millennium Challenge Corporation's closure on Wednesday.
- President Trump opposes development aid, having earlier shuttered the larger USAID government body.
- The Millennium Challenge Corporation invested billions in infrastructure for countries meeting governance standards.
- An MCC executive told staff, "we are coming to an orderly close".
- The exit will likely leave construction works unfinished and may cede ground to China.
40 Articles
40 Articles
Trump aims axe at community lender fund
The Treasury’s Community Development Financial Institutions Fund supports lenders in far-flung and underserved areas. It also made a laundry list of federal programs President Trump deemed unnecessary and ordered to be “eliminated” last month. In this episode, how local banks are preparing for the possibility of losing that critical funding. Plus, leaders in the past who championed tariffs, retailers fret over consumer stress and apartment const…
The MCC, the US infrastructure finance agency in Africa, will close
Donald Trump's government today ordered the closure of the Millennium Challenge Corporation, an international aid agency that had invested $17 billion in infrastructure projects since its inception 20 years ago, mainly on the African continent.
Africa: A Broken Promise - Why Foreign Aid Needs a Democratic Reset
Guest Column - For the past several months, foreign aid has been in freefall. The massive cuts by the U.S., the world’s largest donor country, provided a new cover for even more announcements of aid budget cuts, with surprisingly little scrutiny or pushback, and disastrous impacts.
Trump to gut US agency funding Africa infrastructure projects
WASHINGTON, United States — President Donald Trump’s administration plans to gut a US agency that has invested billions in infrastructure in Africa, ceding ground in a key area of competition with China, according to a memo. A memo, which was sent to staff and whose contents were shared Wednesday with AFP, said that billionaire Elon
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