In the name of Development Aid

September 26, 2021 06:30 am

While scanning MCC, Nepal can also learn from the Sri Lankan experience where a US aid scheme sparked debate and MCC was not approved. Critics argue that the MCC’s primary commitment is not poverty reduction but to reshape the legal, institutional, infrastructural and financial contexts of poorer countries to better suit US economic and Indo-Pacific Strategy Pact interests of the government and becoming an instrument of the new imperialism pursuing economic hegemony through the extension and ever-deepening penetration of neoliberal capitalism. Vietnam has already rejected MCC.