President Akufo-Addo is certain prudent interventions of his government has led to Ghana being included in the activities of the Millennium Challenge Corporation (MCC), noting the opportunities from the progamme will be of immense benefit to Ghana as he is a firm believer in the prospects of ECOWAS and its regional market potential.
He made the submission when the Acting Vice President of the Millennium Challenge Corporation (MCC), Ms. Kyeh Kim paid him a visit and announced Ghana as a selected country in West Africa to be a beneficiary of another Compact programme from the MCC.
According to Ms. Kim, the Regional Compact Programme will be used for the construction of large-scale, cross-border infrastructural projects in a pool of countries in West Africa including Ghana, Burkina Faso, Cote d’Ivoire, Benin and Niger.
She said a new legislation from the US congress, signed into law by President Donald Trump allows the corporation to enter into this regional compact without waiting for ongoing projects to be concluded first.
With cabinet having approved the ECG Concession programme successfully, she added that the selection of Ghana to be a beneficiary of the Regional Compact Programme is a “big reward.”
Ghana and the US concluded an initial Millennium Challenge Compact from February 16, 2007 to February 16, 2012 that helped Ghana in achieving economic growth and poverty reduction. The MCC is currently executing a US$400 million programme aimed at improving efficiency in Ghana’s energy sector in part by introducing private investment into hitherto state run companies along the energy production and distribution supply chain.
By Michael Eli Dokosi