Question

    Recently in the news, Millennium Challenge Corporation

    (MCC) is an initiative of which of the following?
    A United Nations Correct Answer Incorrect Answer
    B International Monetary Funds Correct Answer Incorrect Answer
    C European Union Correct Answer Incorrect Answer
    D USA Correct Answer Incorrect Answer
    E World Bank Correct Answer Incorrect Answer

    Solution

    Millennium Challenge Corporation (MCC) , created by the United States in 2004, offers large grants to support economic growth. Recently, Nepal’s Parliament has approved a USD 500m US grant, in spite of several street protests and opposition in the country. Nepal signed the US government’s MCC pact in 2017 to fund infrastructure projects.

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