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26.07.2005 General News

Ghana begins MCC project in October

GNA

Accra, July 26, GNA - Ghana is 70 per cent through with the process that would enable her to access more than 200 million dollars from the Millennium Challenge Corporation (MCC) Account.

Mr Kwadwo Baah-Wiredu, Finance and Economic Planning Minister, who was speaking to the Ghana News Agency (GNA) on Tuesday, said the Government met the deadline of July 22, 2005 for submitting the Proposal Plan Report to the Corporation.

He said the 30 per cent of the process that was left would involve details of the proposal and that the Government was hopeful to start the full implementation in October this year.

Last February, a team of experts from the MCC came to the country to assist Ghana in her process following an initial proposal design the country presented.

The MCC is a four-year project, which would focus on the integrated development of Ghana's agri-business potential.

It would help address fundamental structural problems in the development of the economy with the main objective of laying emphasis on growth through private sector led-agriculture business development. This is expected to increase investment, productivity and improve export earnings.

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