Elon Musk is dismantling a small but important independent agency that supports economic development in poor but stable nations. Employees at the Millennium Challenge Corporation were informed by email that they would be offered early retirement or deferred resignation following visits from Musk’s staffers. The agency is relatively small around 300 employees, mostly based in Washington, with about 20 stationed overseas. Created by Congress in 2004 and championed by President George W. Bush, the agency was designed to provide development aid while ensuring U.S. funds were used responsibly. With an annual budget of just $1 billion, it funds grants directly to foreign governments for infrastructure and development projects, many of which help counter China’s growing influence in Asia and Africa. At the time of the announcement, the agency had 20 projects in various stages of planning or execution.
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