Government of Ghana five year compact loan

Overview:

• The Government of Ghana secured a five year compact from the Millennium Challenge Corporation (MCC) to help address its power deficiencies. 
• The first year's compact, signed in 2014, saw the firm secure a $498 million loan, to be invested into the Electricity Company of Ghana (ECG). 
• In October 2016 Ghana secured the second compact, again worth $498 million. 
• The MCC is a US government aid agency.
• The five year compact is the largest under the Power Africa Initiative to increase access to reliable energy in sub-Saharan Africa.
• The deal was first signed in August, 2014.

Kurt Stumpo - Journalist