| | In March 2002 George W Bush, President of the United States of America, called for a 'new compact for global development' to gradually boost US development assistance by 50% over the period 2004-2006. These new funds, which will go into a Millennium Challenge Account (MCA), will reverse the declining trends in foreign aid of the past decade. But besides volume of aid, the MCA was considered, at least in the propaganda that followed the Bush announcement, a radical departure from the past for its emphasis on policy reforms, sustainable growth, accountability, partnership between the US and the developing world, participation of Southern civil society actors. |
