Thursday, March 04, 2010

Malawi & Zambia Set to Receive BIG $$ from U.S.

As a result of their stable governments and democracies, the countries of Zambia and Malawi will be rewarded with "hundreds of millions of dollars in U.S. infrastructure grants in the next two years" via the Millennium Challenge Corporation (MCC).

The MCC has committed $5.1 billion to Africa over a five year period that will aimed primarily at the infrastructure development to the continent. The countries of Malawi and Zambia are just two of the latest to receive money from U.S. investment. The countries of Tanzania, Ghana and Mozambique have also received hundreds of millions of dollars in US aid.

The MCC was set up in 2004 under President George W. Bush "with the goal of helping lift incomes in poor countries through infrastructure grants."

- Tiffanie Depew

SOURCE: Reuters Africa