In this Washington Post opinion piece, Raj Kumar, president of Devex and a member of the Council on Foreign Relations, and John Hewko, the general secretary and chief executive of Rotary International, report on the Millennium Challenge Corp. (MCC), a government “corporation” established in 2004 under the George W. Bush administration “on the premise that U.S. foreign assistance would have the greatest impact if offered on a non-political basis to developing countries that adopt sound economic and social policies.” They write, “Congress has appropriated about $10 billion to the MCC over the past seven years, but the prudent agency has disbursed just a few billion,” and “the agency is now a takeover target.”

“So here’s a way to give the MCC concept a long-term lease on life: Take the agency out of the U.S. government and transform it into a multilateral agency, an international organization with multiple countries as shareholders,” they write, adding, “Transforming the MCC into a global agency helps solve issues for this country and beyond by offering a small way to reduce our deficit while preserving an innovative and effective government program that is making a difference in the world” (10/16).