U.S. names 16 countries to receive MCA aid
The U.S. government named 16 countries to receive monetary help from a new assistance program, in place of traditional aid programs.
The countries are Armenia, Benin, Bolivia, Cape Verde, Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia, Mozambique, Nicaragua, Senegal, Sri Lanka, and Vanuata. These countries were picked for the program based on their governance, social investment and economic freedoms, the U.S. government said.
The program, the Millennium Challenge Account, which is overseen by the newly formed Millennium Challenge Corp., was established by the Bush administration in 2002 to help poor countries spur economic growth and attract foreign investment. Congress appropriated $1 billion for the program the 2004 fiscal year.
The program unnerves U.S.-flag vessel operators because it may eventually reduce the amount of aid cargoes they transport overseas each year. The Bush administration insists it will continue to provide funding to traditional food aid programs.