
Audio By Carbonatix
The country should be able to access funds for its second compact with the Millennium Challenge Corporation by the middle of 2014.This can be realised after the corporation has approved Ghana's compact by March next year.The country is now looking for some 745 million dollars for projects outlined under second compact of the Millennium Challenge Account program. The US government is expected to take up about 565 million dollars of the projects cost while the government of Ghana together with private businesses take up the rest.Out-going Country Director of MCC Ghana, Katrina Ntep explains to Joy Business how the funds can be secured for the projects.“We fund specific projects and so the money is paid to contractors, consultants in Ghana and elsewhere to support the investment that we are financing. So infrastructure is constructed and consultancies rolled out that the money really starts flowing."Madam Ntep adds that current budget cuts in the US will not affect Ghana's second compact.Ghana's second compact is expected to focus on the Energy Sector.Ghana was last year selected for the program by the US under the Millennium Challenge program. This was after it successfully completed the 547 million dollar facility to help transform agriculture in the country.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Digital health programme doubles blood pressure control among CHAG patients – PharmAccess
11 minutes -
Ransom note claims Nancy Guthrie died after abduction
13 minutes -
Stop pretending EU’s new border system is working, says airports chief
14 minutes -
We will deepen engagement with fintech and digital asset players on regulating the sector- BoG
33 minutes -
Ghana U-20 midfielder Aborga Wins seals transfer to Ukrainian side Polissya Zhytomyr
45 minutes -
PharmAccess expands €200 million financing support for CHAG health facilities
50 minutes -
Concerned Small-Scale Miners destroy 80 chanfans on River Offin
50 minutes -
Cloudy skies, moderate showers to hit parts of Ghana – GMet
58 minutes -
Parliament to reinstate Afenyo-Markin as member of delegation to ECOWAS parliament
59 minutes -
Judicial Service to deploy AI assistant for all 445 judges nationwide
1 hour -
Zoomlion launches emergency fumigation after floods hit Accra
1 hour -
Access Bank Ghana sets course for earnings growth after record balance sheet expansion
1 hour -
Manhyia South MP demands transparency on Damang Mine lease in RTI request
2 hours -
Ara Ẹni releases ‘For My Matter’ as Ghana rallies behind Black Stars’ World Cup campaign
2 hours -
GoldBod introduces new official gold pricing regime from July 1
2 hours