- The government of the US has withdrawn some $190 million advanced to Ghana
- The funding was withdrawn following the termination of the PDS agreement by the government of Ghana
- The US says the action by the GoG was unwarranted
- Our Manifesto: This is what YEN.com.gh believes in
The United States of America is unhappy with Government of Ghana over the termination of the concession agreement with Power Distribution Services (PDS).
The US government, in a statement, described the action by the GoG as “unwarranted”.
The US, through its Embassy in Accra, insists the PDS deal was valid, despite government of Ghana saying it is fraudulent.
The US in its statement stated that the termination of the PDS concession contract means, Ghana will lose the $190 million under the Compact II programme of the Millennium Challenge Corporation.
“As such, MCC has confirmed that the $190 million funds granted to Ghana at the March 1 transfer to the 20-year concession from ECG to PDS are no longer available,” the statement noted.
The US further underscored the relevance of contract sanctity and how it was important for a conducive investment climate and economic growth.
The US, however, noted it will continue to work with MiDA and the Ghana government to execute the remainder of the Power Compact.
ATTENTION: Your favourite news website, YEN.com.gh, has been nominated for online portal of the year by the National Communications Awards. Please click here to vote and help us win.
“The U.S. Government is a committed partner and has full confidence in MiDA to lead the joint effort to deliver the projects funded through the $308 million remaining under the MCC Ghana Power Compact."
YEN.com.gh earlier reported that the Upper West representation on the Council of State, Mogtar Shahanun has passed at age 74.
The veteran politician and statesman died on Tuesday, October 22, 2019 in the Upper West Region.
Ghana News Today: University of Ghana Interdicts Lecturers Caught in BBC’s Exposé | #Yencomgh
Know someone who is extremely talented and needs recognition? Your stories and photos are always welcome. Get interactive via our Facebook page.