By Kofi Ahovi
The Millennium Development Authority (MiDA) has since the inception of the Millennium Challenge Cooperation committed US$401 million representing 74% of the US$547 million allocated to Ghana under the Millennium Challenge Account.
However, MiDA has only re-disbursed US$154.2 million representing 30% through the Bank of Ghana (BoG).
According to the Chief Executive of MiDA, Martin Eson-Benjamin, at the institution’s turn at the meet-the-press, he said the five-year program is on course, adding that all major contracts have been awarded for execution and “It is our expectation that the program budget will be fully exhausted within the 5-year period.”
He therefore called on contractors engaged by the authority to work diligently to meet their contractual obligations. He also asked the project affected persons to vacate the road corridors to allow work to progress without any hindrance.
The programme, which is being executed through public-private partnership arrangement, has also committed a total of US$21 million to implementing entities including ministries, departments and agencies to ensure capacity building among other things of the staff to facilitate effective supervision and support.
The Chief Executive was hopeful that after the completion of the 5-year programme, Ghana may qualify for a second compact based on the transparency and successful completion of the first compact which end in 2012.
The goal of Ghana’s $547 million compact programme is to reduce poverty through the promotion of sustainable economic growth.
The programme, which is limited to 30 districts and municipal assemblies and clustered into three intervention zones, aims to raise farmer incomes through a private sector-led development and transformation of agribusiness.
It would also enhance the production and productivity of high-value cash and food staple crops, and enhance the competitiveness of the country’s agricultural products in regional and global markets.
The compact was signed between the government of Ghana and the Millennium Challenge Cooperation of USA in 2007 and eligibility is based on good governance and the rule of law, investment in people and encouraging economic freedom.
The Millennium Development Authority (MiDA) has since the inception of the Millennium Challenge Cooperation committed US$401 million representing 74% of the US$547 million allocated to Ghana under the Millennium Challenge Account.
However, MiDA has only re-disbursed US$154.2 million representing 30% through the Bank of Ghana (BoG).
According to the Chief Executive of MiDA, Martin Eson-Benjamin, at the institution’s turn at the meet-the-press, he said the five-year program is on course, adding that all major contracts have been awarded for execution and “It is our expectation that the program budget will be fully exhausted within the 5-year period.”
He therefore called on contractors engaged by the authority to work diligently to meet their contractual obligations. He also asked the project affected persons to vacate the road corridors to allow work to progress without any hindrance.
The programme, which is being executed through public-private partnership arrangement, has also committed a total of US$21 million to implementing entities including ministries, departments and agencies to ensure capacity building among other things of the staff to facilitate effective supervision and support.
The Chief Executive was hopeful that after the completion of the 5-year programme, Ghana may qualify for a second compact based on the transparency and successful completion of the first compact which end in 2012.
The goal of Ghana’s $547 million compact programme is to reduce poverty through the promotion of sustainable economic growth.
The programme, which is limited to 30 districts and municipal assemblies and clustered into three intervention zones, aims to raise farmer incomes through a private sector-led development and transformation of agribusiness.
It would also enhance the production and productivity of high-value cash and food staple crops, and enhance the competitiveness of the country’s agricultural products in regional and global markets.
The compact was signed between the government of Ghana and the Millennium Challenge Cooperation of USA in 2007 and eligibility is based on good governance and the rule of law, investment in people and encouraging economic freedom.
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