Four years after President Bush founded the Millennium Challenge Corporation to reward Africa’s best-run countries and pledged to fund it by $5 billion a year, the MCC has disbursed only 1% of that amount.
President Bush pledged $5 billion a year to Africa's best-run countries; to date, the program has distributed $400,000.
Asked about doubling African aid, Bush said, “It doesn’t fit our budgetary process.”
Source: Millennium Challenge Corporation Millennium Challenge Account
Source: Doubling Aid to Africa: The New York Times The Washington Post June 2, 2005.