Ghana’s eligibility for a second helping of US government funds under the Millennium Challenge Account will be reviewed this December.
The country secured 547 million dollars in the first compact some of which is being used to build the N1 Highway that connects the Accra-Tema Motorway to Mallam.
Though the country passed a similar review last year, officials say another review has become necessary as part of the eligibility criteria.
Millennium Challenge Corporation Vice President, Patrick Fine, explained however, that ahead of the board’s approval of a second compact, discussions were already underway with the power sector likely to be the beneficiary.
Mr. Fine, who is in the country to also assess the execution of projects under the first compact, said the impressive progress put Ghana in a very good position to receive funding from the second compact.
Ghana, meanwhile would forfeit all funds from the compact that have not been utilized by the February 15, 2012 deadline for its completion.
The amount of money the country will receive under the second compact is expected to be announced by April next year.
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:
Latest Stories
-
Mahama gov’t must uphold rights, not persecute critics – CDM warns
4 minutes -
Pedestrians ‘carelessly’ abandon new Tetegu footbridge, dangerously cross highway
7 minutes -
Ashanti Festival 2025 sparks fashion renaissance in A/R
15 minutes -
Gov’t to support 600 local businesses through Kwahu Business Forum – Chief of Staff
21 minutes -
Guru reveals why he wears nose mask and hoodie to lectures
22 minutes -
Roads Minister unveils Tamale Outer Ring Road initiative during visit to Dagbon
24 minutes -
Gov’t to introduce policy to boost oil palm production as part of ‘Feed Ghana programme’
31 minutes -
MTN Heroes of Change Season 7 showcases incredible work of Ghanaians transforming their communities
36 minutes -
It’s a good feeling leading the student populace of UG – Guru
41 minutes -
Society for Human Resource Management positions itself to elevate human resources in Africa
47 minutes -
Indian pot belly: From status symbol to silent killer
48 minutes -
Bawku conflict: We’re only pussyfooting, hoping the crisis will end by itself – Prof Aning
1 hour -
NLA staff union petitions gov’t over “private capture” of authority
1 hour -
President Mahama launches Feed Ghana Programme
1 hour -
Ghanaian players abroad: Partey strikes against Brentford as Yirenkyi scores for Nordsjaelland again
1 hour