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MCC seeks US private sector’s input in Ghana’s concept papers on second compact

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Yohannes_MCCThe development of a Millennium Challenge Corporation second compact for Ghana is currently ongoing and business leaders in the US private sector have been asked for their input.

At an event held at its Washington headquarters January 24, 2013, the MCC asked US business leaders to help it evaluate Ghana’s ideas for developing the country’s energy sector which is a major component of the second compact.

“We are seeking your expertise and advice again. MCC is committed to a comprehensive process that closely coordinates with companies like yours right from the start as we work with partner countries to develop and implement their compacts. Now the process continues with the receipt of concept papers from the Ghanaians. These concept papers outline what they envision for Ghana’s second compact, focused in the energy sector. What we need now are your views on the strength of these concepts,” MCC Chief Executive Officer Daniel W. Yohannes told the business leaders in his remarks.

“Your feedback will allow us to go back to the Ghanaian government with credible guidance for what will make a sustainable difference,” Mr Yohannes added.

“Your voice will make sure that the private sector has a place in Ghana’s compact and in sustaining the proposed investments,” a text of Yohannes’ speech read.

The MCC appreciated the US businesses’ time and effort in reviewing Ghana’s concept papers. “We know that your ideas will make this compact more effective and efficient,” Yohannes added.

The event was also attended by Ghana’s ambassador to the United States, Ambassador Daniel Ohene Agyekum.

According to the MCC Boss, the agency also wants discussion of potential new compacts to include input from the private sector.

“By working together, we can showcase the power of private enterprise in each and every MCC partner country, including Ghana,” Yohannes said.

Ghana successfully completed a five-year $547 million compact with the MCC on February 15, 2012.

Closing the first compact for Ghana officially in Accra, the MCC CEO, Daniel Yohannes who congratulated Ghanaians said “I am gratified the people of Ghana embraced MCC’s innovative approach to development.”

The first compact aimed at making Ghana’s agribusiness sector more competitive and increasing rural incomes by teaching farmers to raise more high-value crops.

By Ekow Quandzie

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