{"id":463654,"date":"2018-02-12T15:36:22","date_gmt":"2018-02-12T15:36:22","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/12\/ghana-to-lose-us119m-in-ecg-privatization-grant\/"},"modified":"2018-02-12T15:36:22","modified_gmt":"2018-02-12T15:36:22","slug":"ghana-to-lose-us119m-in-ecg-privatization-grant","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/12\/ghana-to-lose-us119m-in-ecg-privatization-grant\/","title":{"rendered":"Ghana to lose US$119m in ECG privatization grant"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday, 12 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>primenewsghana.com<\/p>\n<p>2018-02-12<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/10\/74613632.295.jpg\" alt=\"Ecg Ecg\" title=\"Ecg Ecg\" width=\"295\" height=\"295\" \/><span class=\"image_caption\"><span>ECG logo<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1518449782_462_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">Ghana risks losing 119 million dollars under the Power Compact II, if the government does not take steps to meet certain requirements by September this year.<\/p>\n<p>According to the new Country Director of the Millennium Challenge Corporation (MCC), Kenneth James Miller, the amount will be taken out of the 498 million dollars grant given by the U.S government to help in the privatization of Electricity Company of Ghana (ECG), and other projects.<\/p>\n<p>Speaking to an Accra based radio station, Citi FM, Mr. Miller pointed out that Ghana has delayed in meeting many of the requirements.<\/p>\n<p>\u201cWe have three years, six months and 30 days until we close and have September 6 this year, for the Government of Ghana to pull a specific trigger on the ECG Concession on a private firm to partner Ghanaian partners\u201d.<\/p>\n<p>\u201cIf the date is not achieved, the way the Compact was negotiated between the two governments, the US$ 119 million dollars would be pulled back from the table,\u201d he threatened.<\/p>\n<p>Kenneth James Miller stated that the U.S government and the Millennium Development Authority (MiDA) have done all the necessary works for the compact to run smoothly.<\/p>\n<p>He, however, pointed out that the government of Ghana has reneged on its promised to meet specific schedules ahead of the implementation of the Compact II. He maintained that the government of Ghana must quicken its pace in meeting the requirement to avoid a substantial part of the grant, being yanked back to the U.S Treasury.<\/p>\n<p>\u201cWe\u2019re where we\u2019re with delays and so we\u2019re doing a bit more to change the narrative and be much more proactive and aggressive in how we do our work,\u201d he said.<\/p>\n<p>\u201cWe need to focus on this as a really a priority for Ghana. Everyone has to get involved and make things quicker with urgency,\u201d he advised.<\/p>\n<p>Meanwhile, the Chief Executive of the Millennium Development Authority (MiDA), Martin Eson-Benjamin has assured that the authority is working to meet all the schedules under the compact.<\/p>\n<p><!-- uploaded by: 63 updated by: 63 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 12 February 2018 Source: primenewsghana.com 2018-02-12 ECG logo Ghana risks losing 119 million dollars under the Power Compact II, if the government does not take steps to meet certain requirements by September this year. According to the new Country Director of the Millennium Challenge Corporation (MCC), Kenneth James Miller, the amount [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":428461,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-463654","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/463654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=463654"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/463654\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=463654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=463654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=463654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}