Overview
- The Millennium Challenge Corporation (MCC), founded in 2004 to promote economic growth in developing countries, is being dismantled as part of a broader federal downsizing initiative led by the Trump administration and Elon Musk’s Department of Government Efficiency (DOGE).
- All MCC programs are being terminated, with limited extensions granted for projects in Ivory Coast, Mongolia, Nepal, and Senegal to ensure safety at construction sites or near-completion work.
- MCC employees, numbering around 300, have until April 29 to accept early retirement or deferred resignation offers, or face administrative leave starting May 5; only the acting CEO will remain to meet statutory requirements.
- The closure of MCC, which has invested $17 billion in infrastructure and policy reform projects across over 50 countries, is raising concerns over the U.S. ceding influence to China, particularly in countering its Belt and Road Initiative.
- This move follows the dismantling of USAID and other foreign aid agencies, sparking bipartisan alarm over the strategic, humanitarian, and legal implications of the administration’s aggressive reduction of U.S. foreign assistance programs.