Energy for Growth Hub’s Casey Dunning Davis joins host Katie Auth to discuss how the Millennium Challenge Corporation (mostly) escaped being DOGEd, where it excels in international development, and where it falls short. Listen as Casey and Katie discuss how the agency’s mandate and portfolio are changing to match the political moment, and whether MCC could be the most powerful tool to strengthen electric utilities in emerging economies.

About the Guest:
Casey Dunning Davis is the US Foreign Policy Director at the Energy for Growth Hub, where she leads work on advancing US policy for more impactful global energy investments. She previously spent nearly a decade as Director of Results and Learning at the Millennium Challenge Corporation. Before MCC, she was a senior policy analyst at the Center for Global Development, focusing on US development policy and aid effectiveness.

"I don't know another donor agency that, as a matter of course, has this level of analytical firepower to understand where and in what to invest."
- Casey Dunning Davis, Season 5 of High Energy Planet

Covered in This Episode:

• MCC 101: Casey explains what makes the Millennium Challenge Corporation different from USAID and other development agencies: debt-free grants, a laser focus on economic growth, and compacts co-designed and co-funded with partner governments.

• How MCC Survived: Casey describes the fear inside MCC as USAID was dismantled, and why its hyper-selectivity and ability to account for every dollar helped it stay standing.

• Energy Takes Over: Katie and Casey look at how MCC's portfolio has shifted under the Trump administration, with energy now accounting for over half of all funding.

• Why Utilities Matter: Katie explains why failing utilities are the biggest barrier to functional power systems, and Casey makes the case that MCC's large grants and up-front reform requirements give it unusual leverage.

• Lessons from Malawi and Ghana: Casey uses two case studies to show how MCC holds partner governments to their commitments and walks away when they don't follow through.

• Liberia and the Case for Focus: Casey argues MCC should target two or three utility problems rather than try to fix everything.

• After the Compact: Casey shares what she no longer believes: that a single five-year compact can transform a sector on its own.

Resources:

• Learn more about the Millennium Challenge Corporation (MCC)

• Casey cites Nepal as the largest country co-investment to date. Learn more about the Nepal Compact

• Casey discusses the Malawi Compact, which focused on the country's transmission backbone and utility reform

• Katie and Casey discuss the Ghana Power Compact, and MCC's decision to pull funding when Ghana ended its utility concession

• Learn more about MCC's work in Liberia, and Casey’s suggestions for the new one now in development

• Casey mentions MCC's newest energy compact. Learn more about the Côte d'Ivoire Regional Compact

• Catch up on all High Energy Planet episodes, including this season’s E1 with Adva Saldinger

Find more information at EnergyForGrowth.org.

If you enjoyed this episode, please rate, review, and share it with a colleague.

International development reporter Adva Saldinger joins host Katie Auth for the first episode of season 5 to discuss how the Trump administration is reshaping the world of development finance for energy and climate. Adva explains the rising prominence (and shifting mandate) of the US Development Finance Corporation (DFC) – and the questions being raised about its speed, credibility, and accountability. She and Katie also dig into how the World Bank is navigating pressure from the US, including a compromise over its climate strategy.

About the Guest:
Adva Saldinger is a Senior Reporter at Devex where she covers development finance and U.S. foreign aid policy. Adva authors the weekly Devex Invested newsletter that focuses on the role of business and finance in addressing global challenges. A journalist with nearly two decades of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.

"I think if you want a deal to get through, you need to pretty clearly be able to link it to a benefit to the US economy and be able to articulate that pretty well."

- Adva Saldinger, Season 5 of High Energy Planet

Covered in This Episode

• A Reshuffled Landscape: Katie asks Adva how her beat has changed since the start of the second Trump administration, and Adva explains that with USAID gone, the Development Finance Corporation and the Millennium Challenge Corporation have become the central players in US development policy — though a clear, unified policy vision still hasn't emerged.

• DFC's Pivot to Fewer, Bigger Deals: Katie and Adva dig into why DFC, following a congressional reauthorization that more than tripled its investment cap to over $200 billion, is now chasing fewer, larger, more strategic deals in energy, infrastructure, and critical minerals.

• Congress, the Board, and the Cost of Speed: Katie and Adva unpack Congressional pushback on transparency and accountability, reports of Commerce Secretary Howard Lutnick blocking deals at the board level, and whether DFC's faster timelines means cutting corners on due diligence.

• The I Squared Capital Blueprint: Adva walks Katie through DFC's $1.5 billion natural gas deal in South and Southeast Asia, and what it reveals about what it now takes to get a deal approved: a clear, articulable benefit to the US economy.

• Treasury's World Bank Wish List: Katie and Adva talk through Secretary Bessent's asks of the World Bank and how World Bank President Ajay Banga has managed the pressure from the Bank’s largest shareholder.

• The Climate Compromise, and What's Next: Adva and Katie discuss how the World Bank kept its Climate Action Plan but dropped its 45% climate target, and consider a possible future where DFC drives US strategy while the World Bank is responsible for the traditional development mission.

Resources

• Follow Adva Saldinger's reporting at Devex

• Read more about DFC’s congressional reauthorization: DFC gets a long-awaited glow-up

• Read about DFC's $1.5 billion energy platform with I Squared Capital, the largest project the agency has undertaken

• Adva mentioned an op-ed from four World Bank executive directors. Read it here: The World Bank is moving to climate action that counts, focusing on results

Find more information at EnergyForGrowth.org.

If you enjoyed this episode, please rate, review, and share it with a colleague. 

Imagine a world with electricity so abundant that it powers jobs, boosts innovation, and improves living standards at massive scale. And so universal that no person’s potential is wasted because energy is too limited or expensive where they live.

High Energy Planet, from the Energy for Growth Hub, explores how we build that future.

In Season 5, we’re focused on the US government’s wild shifts in energy and development policy. What’s actually happening? What does it mean for partners? For investors? For philanthropy? And most of all: how do we reinvent energy and climate diplomacy for a world that has fundamentally changed?

Season 5 starts September 15 – new episodes monthly.
Hosted by Katie Auth, deputy executive director of the Energy for Growth Hub.

This show is brought to you by the Energy for Growth Hub. Subscribe so you don’t miss an episode.

Learn more:

• Visit the Energy for Growth Hub

• Learn more about host Katie Auth

• Read Katie's Substack: 'Aid Interrupted'

• Learn more about High Energy Planet and find transcripts on the web

Ken Opalo, associate professor at Georgetown University and author of An Africanist Perspective, joins the show to discuss what’s really behind chronic underinvestment in Africa’s power sector, what US policymakers are missing, and what gives him hope for the future of African development.

Rose and Katie unpack the fallout from the Trump administration’s dismantling of USAID and what it means for global energy investment and energy access. Drawing on their experience in US government, they explore the ripple effects of these cuts, the impact on local and international partners, and the broader shifts in development assistance. They also reflect on the role of public service, the evolving nature of US engagement abroad, and how to navigate this new reality.

Faten Aggad, the founder and executive director of the African Future Policies Hub, discusses the future of climate diplomacy, Africa’s green industrialization, and how she’s helping build Africa’s policy negotiation capacity.

Visit our website for more information, including the full show notes and transcript. Follow us on LinkedIn, X/Twitter and subscribe to our newsletter.

What might a second Trump presidency mean for energy access and energy investment? In this special episode, we share a recent conversation between Katie and Ramsey Day, former Trump official and current Hub advisor, on the future of US development assistance and energy poverty.

Visit our website for more information, including the full show notes and transcript. Follow us on LinkedIn, X/Twitter and subscribe to our newsletter.

Mark Thurber, associate director of the Program on Energy and Sustainable Development, comes on the show to discuss the unique challenges of integrating renewables in energy markets, why he believes we should all take bigger risks, and how he uses an online game to teach market dynamics.

Visit our website for more information, including the full show notes and transcript. Follow us on LinkedIn, X/Twitter and subscribe to our newsletter.

Kate Steel, co-founder and CEO of Nithio, a start-up focused on financing clean energy companies and informing climate investments in Africa. In this episode, Kate talks with Katie and Rose about how we can fund universal energy access, the off-grid sector and its trajectory, and what she learned from launching Nithio.

Visit our website for more information, including the full show notes and transcript. Follow us on LinkedIn, X/Twitter and subscribe to our newsletter.