CBS News cites CGD's research on the Millennium Challenge Corporation.
From the article:
"The White House's other major new aid initiative hasn't proven to be much more effective. The Millenium Challenge Corporation, first launched in 2002, was supposed to be a new kind of aid program, one that selected recipient nations based upon a range of indicators that show their ability to govern well. But MCC has also suffered from going it alone. According to one study by the Center for Global Development, the leading Washington think-tank focusing on aid, although experience had shown that donors worked best when they coordinated their efforts in a country, 'MCC tended to steer clear ... much to the dismay and frustration of other donors.' With few staff and little organization, the MCC moved very slowly. In fiscal year 2007, according to another analysis by the Center for Global Development, the MCC only disbursed 6.8 percent of the money it was allocated. Worse, it clearly has drained funds from longtime, critical aid programs: In 2007 the administration slashed aid for extreme poverty programs, like child survival initiatives in Africa."