Abstract
The Millennium Challenge Account (MCA) is a commitment of the United States to raise its grant aid by a factor of 50% over the next 3 years and will result in a $5 billion annual increase over current foreign aid levels. Many other countries and multinational development assistance agencies will be asked to help cofinance this new account, and their participation would augment this original proposal from the United States. The MCA offers the opportunity for a quantum change in the prospects for peace, stability, and the alleviation of poverty. However, will it work? This article suggests that the MCA will work only if it addresses several important dilemmas in the nature of foreign aid conditionality and the terms of reference of foreign aid organizations.
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