Washington — A five-year, $547 million compact between Ghana and the U.S. Millennium Challenge Corporation (MCC) is reducing poverty in Ghana through strategic investments in infrastructure, agriculture and other areas, the MCC said February 15.
“As Ghana marks the successful completion of its first Millennium Challenge Corporation compact, I congratulate Ghanaians for embracing MCC’s results-focused and policy-centered approach to sustainable development,” said U.S. Secretary of State and Chairman of the MCC Board of Directors Hillary Rodham Clinton.
“Through the efforts of farmers, civil society, the private sector, nongovernmental organizations and government leaders, Ghana designed and implemented its own development solutions through a true partnership with MCC, based on shared responsibility and mutual accountability,” Clinton said.
MCC’s partnership with Ghana is expected to provide economic opportunities for more than 1.2 million Ghanaians. MCC investments in agribusiness will lead to higher farmer incomes by increasing the production and commercialization of high-value cash and food staple crops in some of the poorest regions. They will also enhance the competitiveness of Ghana’s agricultural products in regional and international markets.
In addition to agriculture, MCC’s compact with Ghana supported a range of other investments, including infrastructure, water and education.
“The MCC-funded results we celebrate — farmers trained to compete globally and new roads and post-harvest handling facilities to expedite trade and commerce — are an outstanding testament to strong U.S.-Ghana relations,” Secretary Clinton said. “May the groundwork for economic growth and prosperity that Ghana built through its MCC compact be sustained and built upon now for generations to come.”
At official closeout events in Ghana the week of February 13, MCC CEO Daniel Yohannes congratulated the Ghanaians. “I am gratified the people of Ghana embraced MCC’s innovative approach to development. It is an approach that reflects the values of Ghanaians dedicated to creating a life of opportunity,” he said.
“While Ghana is among the few MCC partners to qualify to develop a possible second compact,” Yohannes said, “it is critical now that this first compact is completed and that the benefits are sustained. The right practices and policies must remain in place to maintain and build on what has been accomplished. We join the people of Ghana in celebrating the successes achieved during this compact.”
MCC’s investments in Ghana have strengthened its transportation network and expanded the agribusiness sector, reducing constraints to greater trade and investment. An expansion of economically sound policies and investments like those made by MCC can combine with Ghana’s access to European and U.S. markets to make Ghana a major economic hub in West Africa with the potential to attract private sector investments.
MCC assistance is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people. For more information about the MCC compact in Ghana, visit MCC’s website.
