President Donald Trump’s administration on Wednesday ordered the closure of a US agency that invested billions in African and other developing countries’ infrastructure in return for good governance, effectively ceding ground to China.
The Millennium Challenge Corporation (MCC) will immediately exit projects around the world, from building roads to modernizing electricity grids, likely leaving the works under construction unless other partners step in.
An MCC executive at a staff meeting on Wednesday told staff that “we are coming to an orderly close” with all programs to be discontinued, according to an employee who was present. MORE