By: Prosper Agbenyega
There are doubts surrounding the early accessibility of another tranche of US Millennium Challenge Corporation funding even though Ghana has qualified for it, after the first compact of $547 million over a six-year period was exhausted on several infrastructure projects.
Indications are that the second tranche of half a billion dollar check is coming could not come anytime soon. However, the first compact of $547 million was used to finance infrastructural projects including, 247 school blocks around the country, two ferries to facilitate transportation on the Volta Lake and for many in here in Accra, the magnificent 14-kilometer N1 Highway which was commissioned by His Excellency John Evans Atta Mills last week. More than 500 kilometres of feeder and trunk roads have also been constructed or rehabilitated with funding from the first compact.
This paper has gathered that funding from the second compact is targeted at the energy sector. However, speaking to the Chief Executive of the MCC Daniel Yohannes, who was in Ghana to handover the first compact’s project to government, he said any new funding coming from MCC to Ghana if confirmed could not be immediate and might take some time.
Daniel Yohannes mentioned that maintenance of the completed projects is very important to the growth of the nation, saying that the MCC was hopeful the government of Ghana will make the necessary policy reforms to ensure that the projects are maintained for a very long time.