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General News of Friday, 15 May 2015


Ghana to receive $498m MCC cash in December

Ghana will receive the 498 million dollars promised by the United States as soon as government begins to streamline the operations of the Electricity Company of Ghana to make it more efficient.

Speaking on the status of the Millennium Challenge Compact II which has been targeted at revamping Ghana’s energy sector, the Vice President of the Millennium Challenge Corporation, Kamran Khan told journalists that the 498 million dollars allocated to Ghana will be in by December if the necessary conditions outlined to government are adhered to.

“It is very important to sustain the momentum in Ghana, the interest of the international community to invest in the power sector in Ghana, so that we start the process of improving the operations, management, financial conditions of ECG and that is where the concession comes in as a key tool to improve ECG.

“There is interest in Ghana and it is the trend that matters, so are we on the right track and this is what we would like to think the MCC compact can help achieve”.