TITLE

A Better Way to Fight Global Poverty

AUTHOR(S)
Sperling, Gene; Hart, Tom
PUB. DATE
March 2003
SOURCE
Foreign Affairs;Mar/Apr2003, Vol. 82 Issue 2, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
In March 2002, President George W. Bush pledged to significantly increase US development assistance to poor nations through the creation of a new Millennium Challenge Account (MCA). The proposed MCA is a step forward because it builds on an emerging consensus that development works best when poor countries have strong policies on governance and economic reform and take responsibility for reducing poverty and spurring economic growth. In addition, it is a step forward because it underscores a growing bipartisan commitment to development assistance. But the MCA also poses a great risk: by dealing with recipient countries only on a bilateral basis, the fund could undo significant recent progress in improving donor coordination. The MCA's current design does not address the fact that the large majority of poor countries will not only fail initially to qualify for aid but are many years away from realistically achieving eligibility. The benefits of a two-tiered approach merit serious consideration by Congress and the administration as they take up the task of writing the MCA into law in the coming months.
ACCESSION #
9126648

 

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