Disbursement of $498.2m MCC cash: Mahama proposes broader consultation

President Mahama with Chief Executive of the MCC, Dana Hyde (L)
President Mahama with Chief Executive of the MCC, Dana Hyde (L)
President John Dramani Mahama has proposed an increased stakeholder engagement following the entry into force of the Ghana Compact with the Millennium Challenge Corporation (MCC).
Speaking to journalists in New York after a courtesy call by the Chief Executive of the MCC, Dana Hyde, President Mahama said with the implementation and disbursement of the Compact about to commence, a focused and increased stakeholder consultation will help the process.
The second compact, worth $498.2 million is focused on growing Ghana’s power sector. Ghana has already accessed the first compact of $547 million over a five-year period, which was committed to poverty reduction strategies.
This second compact, which will also run for a five-year period, is not only geared towards transforming the energy sector but also bring on board private sector investments in the power sector.
It is against this backdrop that the Electricity Company of Ghana (ECG) is to be leased to a private entity for the next 30 years under a concession; something that has triggered protests from the ECG workers and other trade unions in the country.
The Millennium Challenge Corporation grants new compacts to countries that have fully utilized previous funds for the intended purpose.
According to President Mahama, this is an indication of his government’s credibility in the eyes of the global community.
President Mahama also spoke to journalists about his bilateral talks with the President of Portugal, HE Marcelo Rebelo and HE David Grangar of Guyana, and also about his statement to the General Assembly today, Wednesday.
The MCC Chief Executive congratulated Ghana for achieving entry into force of the Ghana Compact.
President Addresses UN General Assembly today
Meanwhile, President Mahama will later today, at approximately 15.45GMT, take his turn to address the UN General Assembly in New York.
It will be President Mahama’s fourth address and according to him his statement will analyse “what the situation is in terms of the international context and zero down on some of the things we are doing in Ghana.”
Speaking to journalists at the UN on Tuesday, President Mahama said the opportunity to contribute to the annual General Debate on the floor of the United Nations helps the various countries to share their world view with the rest of the international community.
“The UN platform gives every nation a voice to comment on global developments and we are going to take our opportunity”, he added.
The address will be live on Ghana Television and all Radio Ghana affiliates across the country.
President Mahama who is also the Co-Chair of the SDG Advocacy Group will also participate in two high-level events, the Power of Innovation towards the attainment of the 2030 Agenda for Sustainable Development and a US-Afrca Business Forum.
By|NDC communications|Ghana

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