The Millennium Challenge Corporation (MCC)have said it is awaiting proposals from Ghana before it approves the Compact II for takeoff next year.
The Board of Millennium Challenge Corporation (MCC)last year selected Ghana for the second compact under the Millennium Challenge Account. This was after it successfully completed the 547 million dollar facility by the Corporation, to help transform agriculture in the country.
Speaking to Joy Business through a teleconference from Darker Senegal, Chief Executive of the Corporation, Dr. Daniel Yohannes says the amount that will be devoted, would depend on Ghana’s proposal.
Dr. Yohannes explain that the process is simple but rigourous and involves making sure there are some institutional reforms at the sector level, that is roads or energy for example, to ensure that the investments that are going to be made by MCC will stay for a long time.
Dr. Yohannes said the current budget cuts in the US might not affect Ghana’s second compact. Ghana’s compact II is expected to focus on the energy sector.