The Ministry of Finance and Development Planning (MFDP) has disclosed plans that the Government of Liberia will shortly receive US$256 million from the United States of America through the Millennium Challenge Corporation (MCC) compact program.
According to the Ministry, the offer comes after the accomplishment of the MCC Compact which serves as eligibility threshold following government’s performance on key governance indicators and the successful implementation of a compact threshold program in 2013.
The Ministry of Finance and Development Planning said the compact negotiated between the two governments will provide the GoL a grant in the amount of 256.7 million US Dollars to fund projects which constitute the largest contribution to the rehabilitation of the Mt. Coffee Hydro Power Plant, rehabilitation of the water intake and pipeline from Mt. Coffee to Millsburg, construction of regional road maintenance centers in River Gee and Tubmanburg, as well as erection of a LEC Training Center.
As Liberia is expected to sign the compact in early October 2015 in Washington D.C., the MCC compact will provide significant resources in further transforming the Liberian economy leading to increased employment and poverty reduction.
The MFDP release noted that government’s attainment of the MCC compact threshold also marks the Sirleaf Administration’s serious commitment to good governance and the successful implementation of important policy and regulatory reforms necessary to stimulate private investment.
The MCC Compact Program in Liberia is implemented through a Compact Development Core team headed by former Foreign Minister Mr. Monie Captan, under the leadership and direction of Liberia’s Minister of Finance and Development Planning Amara M. Konneh.
The projects funded under the MCC compact will be implemented over a five (5) year period through a special purpose agency to be created by the Government. The agency will be known as the Millennium Challenge Account – Liberia (MCA-Liberia).
The MCC is an independent, bilateral U.S. Government foreign aid agency established by Congress that is based on the principle that aid is most effective when it reinforces good governance and economic prosperity.
In 2010, the MCC and government of Liberia signed a $15 million threshold program grant agreement that focused on improving land rights and access, increasing girls’ primary education enrollment and retention, and improving Liberia trade policy and practices.
Recently a Government of Liberia delegation entered into compact negotiations with the MCC from July 28 to 30, 2015 in Washington D.C.
Previous MCC compact projects in Africa have seen Ghana, Tanzania, Morocco, and Benin, among beneficiary countries.
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