Washington, April 24 -- The administration of U.S. President Donald Trump announced Wednesday that it will shut down the Millennium Challenge Corporation (MCC), a foreign aid agency known for funding infrastructure projects in developing countries, according to media reports.
Employees were informed during a staff meeting that the agency is "coming to an orderly close," and that all ongoing programs will be discontinued. The announcement followed a staff-wide memo stating that the Department of Government Efficiency, led by Elon Musk, had mandated a "significant reduction" at the MCC.
Established in 2004, the MCC has invested approximately 17 billion U.S. dollars in development assistance across developing countries that met its governa...