The Millennium Challenge Corporation (MCC) is an innovative and independent U.S. foreign aid agency that is helping developing countries to fight against poverty through economic development.
Good things about MCC
- Free Money used for development in Nepal
- Helps power sector, which is extremely useful for Nepal
- No need to pay back (Not loan)
- Injection of large funds in Nepalese Economy
- Will help stimulate Nepalese Economy, and hence reducing poverty
Bad things about MCC
- Nepal have to invest in the approved area only
- Should be passed as a separate law, so there are chances that someone might be above other law
Skepticism about MCC
- Might reduce Chinese influence in Nepal, so pro china parties are generally against it
- Might increase US influence, so pro usa parties are generally supporting it
Comparing with BRI
- BRI is Loan, vs MCC is Aid
- Defaulting BRI might have some bad effect, as they might takeover some projects e.g. in SriLanka, Pakistan, and Africa. But no problem in MCC
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