For the past two years, you've heard all about the Millennium Challenge Corporation and the 125 million US dollar grant earmarked for investment in the energy and education sectors. The compact was signed back in March 2023, and finalized in September 2024. The Briceno Administration boasted about the grant at every turn - all the way to the UN - saying it was a mark of good governance. But before the projects could get off the ground, the US government's Department of Government Efficiency, headed by Elon Musk, has shut down the MCC.
The MCC was established back in 2004 and has partnered with over four dozen developing countries, developing a reputation of being the world's most transparent bilateral agency. It currently has 5.4 billion US dollars in active grants across 20 lower income countries.
But that foreign policy largesse is no longer a priority for the US. The more than 320 employees of MCC will reportedly be offered both a voluntary early retirement and a deferred resignation program. As for the grants, the agency's board will draft a resolution to terminate them across the world within the next several months. It is expected that within 90 days all MCC operations will be terminated. Belize reportedly got its notice already.
So what does that mean for Belize? Well, those projects in the energy and education sectors - which were just about to start the planning phase - are now effectively still births.
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