Ghana to benefit from second MCC funding

THE Millennium Challenge Corporation (MCC) has confirmed that Ghana has qualified for another amount under the Millennium Challenge Account (MCA).
This is as a result of the excellent execution of work with the first MCA of $547 million, respect for the rule of law and fundamental human rights and economic discipline by the government and the people of Ghana.
The MCC Resident Country Director, Ms Katerina Ntep, disclosed this to the Daily Graphic after a walk last Saturday to mark the last year of the project.
As of last Saturday, the programme was left with 368 days to be completed.
According to Ms Ntep, “The MCC and Ghanaian officials were in the process of discussing which sectors the second account will be applied to.”
He said basically the people of Ghana, led by the government, would come up with the specific sectors which they believed needed assistance.
She said the MCC was highly impressed about the speed and coverage of work, especially in the area of poverty alleviation, which was leading to wealth creation for people who were hitherto very poor.
Ms Ntep did not indicate how much Ghana would receive for the second amount but expressed satisfaction at the work of the first one so far.
According to the Chief Executive of the Millennium Development Authority (MiDA), Mr Martin Esuon-Benjamin, the authority was more than prepared for the second amount because through the execution of work under the first phase, the authority had been able to build its capacity.
He said currently MiDA had disbursed over $490 million, adding that the remaining amount was for part of the work left to be done, other contingencies and administrative work.
He said MiDA had never had any budgetary constraint and urged contractors working on the last phase of all projects to finish in time to enable Ghanaians, especially farmers and others, to derive maximum benefit from the projects.
Mr Esuon-Benjamin noted that under the project, MiDA had trained and built the capacity of 73,000 farmers in 30 districts, built over 400 kilometres of road and computerised and connected about 40 rural banks for easy access to the ARP Apex Bank.
According to him, MiDA decided on the walk to gain more energy for the last lap of the project and also get itself in readiness for the second one.
In August 2006, the MCC signed a five-year, $547 million compact with the Republic of Ghana aimed at reducing poverty by raising farmer incomes through private sector-led and agribusiness development.
MCC investments are intended to increase the production and productivity of high-value cash and food staple crops in some of the poorest regions and enhance the competitiveness of Ghana’s agricultural produce in regional and international markets.
The MCC Compact in Ghana entered into force in February 2007, formally initiating the five-year timeline for project implementation.