The Millennium Challenge Corporation told Joy News that it has no “immediate plans to re-operate in Ghana” and has completely exited the Millennium Challenge Compact in Ghana, despite the widespread power crisis. Admitted.
In March 2019, Ghana was on the verge of receiving significant funding of approximately $190 million as part of the second round of the MMC Power Compact, aimed at the long-term sustainability of related infrastructure investments and fiscal recovery of the energy sector. .
However, after a 20-year concession agreement with the Power Distribution Service of Ghana (PDS) failed and PDS was supposed to take over the operation and management of Electricity Company of Ghana (ECG) personnel and assets, the US government called off the transfer. did. He said private sector participation was a central reform under his MCC’s Ghana Power Compact.
The US government said at the time that it looked forward to “continuing to work with MiDA and the Government of Ghana to implement the remaining parts of the Power Compact.”
As Ghana’s electricity crisis flares up again, experts are calling for liquidity support for the country’s energy sector, which is burdened by more than $1.5 billion in debt to independent power producers (IPPs).
The country’s Public Utilities Regulatory Commission (PURC) also revealed an aggravated situation in which the southern power distribution company ECG has defaulted on a $43 million fixed monthly energy purchase price renegotiated with all IPPs.
Commenting on whether the Millennium Challenge Corporation would be willing to again fund this slot and provide support under the agreement, MMC Chief Executive Alice P. Albright said: We had an agreement in place and that agreement was closed,” he said, adding that a significant amount of work was completed during that period.
The top management further said: joy newsMr. Soga said at a press conference hosted by the US State Department on Thursday, May 9, 2024, that while he agrees with the proposal on how energy is important to the country’s overall development, He congratulated him, saying he had not received any support. From MCC.
“While we have no immediate plans to operate in Ghana again at this time, we can always revisit whether Ghana is a possibility,” Aris added.
While Ghana may not be an immediate priority, the Millennium Challenge Corporation says it is working on a number of energy compacts across the continent to address the energy needs of Africa’s growing population. There is.
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