WASHINGTON, DC, October 23, 2019 – In response to the Government of Ghana’s disappointing decision to terminate the concession agreement between the Electric Company of Ghana Ltd (ECG) to private operator Power Distribution Services Ghana Ltd (PDS)—a necessary condition as part of the Ghana Power Compact— the $190 million funds granted to Ghana for the 20-year concession from ECG to PDS are no longer available.
Moving forward, the U.S. Government, through MCC, will continue to implement the Tranche I funds of $308 million with the Millennium Development Authority (MiDA). This funding will continue to support important improvements to the infrastructure of Ghana’s southern distribution network, increase reliability and power access to key markets, and advance energy efficiency programs.
MCC has full confidence that MiDA and the Government of Ghana will continue to work together to implement the necessary solutions under the remainder of the Power Compact to enhance the reliability of the country’s power network and improve the lives of millions of Ghanaians.
Read the statement from the U.S. Embassy in Accra, Ghana.