In addition, Yohannes drew on his own background as a banker, focusing on the importance of a good return on investment for the U.S. taxpayer. President Obama’s global development policy calls for sustainable economic growth in well-governed partner countries that will enact reforms to ensure government accountability and create favorable business conditions in the private sector. Yohannes said, “MCC’s rigorous approach requires that we only invest in those proposals with the strongest potential to reduce poverty and increase incomes. This enables us to answer the fundamental question of aid effectiveness: Do the expected results from our investment justify the use of scarce aid dollars?”
Yohannes made clear that international development aid is not charity, but rather an essential investment in America’s own economic prosperity, saying “By laying the foundation for economic growth in countries worldwide through effective partnerships with the private sector and others outside of government, MCC generates sustainable impact in the fight against global poverty. This creates viable economic partners for the United States and benefits our own prosperity here at home.”
To read CEO Yohannes speech, titled “Investing in Development: On the Road to Better Aid, MCC is Paving the Way” please click here.