Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.
|
|
Wall Street Journal - May 7, 2004
Michael Schroeder, Staff Reporter of The Wall Street Journal
The Millennium Challenge Corp., announced by President Bush two years ago in Monterrey, Mexico, will administer $1 billion of aid this year to those among the world's poorest countries that improve civil rights, fight corruption and adopt market-based economic reforms.
Nations chosen for this year's awards are Armenia, Benin, Bolivia, Cape Verde, Georgia, Ghana, Honduras, Lesotho, Madagascar, Mali, Mongolia, Mozambique, Nicaragua, Senegal, Sri Lanka and Vanuatu.
Mr. Bush has made the Millennium program and a separate AIDS initiative the core of his policy toward Africa and the rest of the developing world.
The concept marks a huge shift in how the federal government doles out assistance to developing countries. It would boost the foreign-aid budget 50% within three years and give authority over the new money to Millennium, an organization separate from the traditional conduits: the State Department and the U.S. Agency for International Development.
When the president announced the Millennium Challenge Account, the administration said it would involve $5 billion of new spending between fiscal 2004 and 2005, and $5 billion a year after that -- a total of $20 billion through fiscal 2008.
Instead, Congress approved $1 billion for 2004, and the White House is proposing $2.5 billion for the following year.
Speaking at the Council of the Americas 34th annual conference this week, Secretary of State Colin Powell called the effort "the most significant development program since the Marshall Plan."
"This is a new experiment, which we think could be really fruitful by giving countries incentives to reform," said Erin Chapman, policy director of DATA, a group that musician Bono founded to advocate for Africa.
Write to Michael Schroeder at mike.schroeder@wsj.com
040507
WJ040507
Copyright © 2004 - The Wall Street Journal. Reproduction of this article (other than one copy for personal reference) must be cleared through the WSJ Permissions Desk.
AEGiS is a 501(c)3, not-for-profit, tax-exempt, educational corporation. AEGiS is made possible through unrestricted funding from the Elton John AIDS Foundation, National Library of Medicine, AIDS Walk of Orange County, and donations from users like you.
Always watch for outdated information. This article first appeared in 2004. This material is designed to support, not replace, the relationship that exists between you and your doctor.
AEGiS presents published material, reprinted with permission and neither endorses nor opposes any material. All information contained on this website, including information relating to health conditions, products, and treatments, is for informational purposes only. It is often presented in summary or aggregate form. It is not meant to be a substitute for the advice provided by your own physician or other medical professionals. Always discuss treatment options with a doctor who specializes in treating HIV.
Copyright ©1980, 2004. AEGiS. All materials appearing on AEGiS are protected by copyright as a collective work or compilation under U.S. copyright and other laws and are the property of AEGiS, or the party credited as the provider of the content. .