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MIDA documents and reports

23rd December, 2021
COMPACT II ANNUAL PERFORMANCE REPORT-MiDA

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16th June, 2021
41ST SPECIAL MEETING - Summary of Minutes

SUMMARY OF THE 41ST SPECIAL MEETING OF THE BOARD OF DIRECTORS OF THE MILLENNIUM DEVELOPMENT AUTHORIT...
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12th May, 2021
MiDA FINAL AUDIT REPORT OF THE MCC RESOURCES MANAGED BY MiDA-APR 01 2019 TO MAR 31 2020

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12th September, 2017
Cost Principles for Accountable Entity Operations

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Program Implementation Agreement

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back26th June, 2015

MiDA Celebrates the Successes of Compact 1 and launches preparations for Compact 2


The joint institutions of the Millennium Development Authority (MiDA) and the Millennium Challenge Corporation (MCC) held a forum on June 26, 2015 at the Alisa Hotel Accra, to celebrate the successes of Compact 1, and launch the preparations for Compact 2.

In 2003, Ghana was invited by the Government of the United States of America to present a proposal for the use of Millennium Challenge assistance to facilitate activities that would support economic growth and poverty reduction. Ghana’s proposal, submitted to the Millennium Challenge Corporation (MCC) in October 2005 utilised approximately US$547.009 million grant funds to support the implementation of various projects. Compact 1 focused on applying the grant assistance to activities that would modernise the agricultural sector, increase farmer incomes, develop transportation infrastructure and enhance rural services. 

The result is the very significant return on investments in a transformed and competitive agricultural sector, speedy growth of the rural economy and a lower incidence of poverty among smallholder farmers.

The US$498.2 million Ghana Power Compact 2 is the largest US Government transaction under Power Africa to date. This grant is intended to create a financially viable power sector that will meet the current and future needs of businesses and households in Ghana. The Government of Ghana will contribute US$37.4 million. Total project funds will be US$535.6 million. There are 6 projects that will form the basis for Compact 2: ECG Financial & Operational Turnaround Project, NEDCo Financial & Operational Turnaround Project, Regulatory Strengthening & Capacity Building Project, Access Project, Power Generation Sector Improvement Project and the Energy Efficiency and Demand Side Management Project.

In attendance at the Forum were:  H.E Former President J.A Kufuor, Ministers of State including the Minister of State responsible for Development Authorities, Hon. Akwasi Opong-Fosu, , Member’s of the Diplomatic Corps including the U.S Ambassador H.E Gene Cretz represented by the Deputy Chief of Mission, The Resident Country Director of the MCC, Deidra Fair-James and senior Officials of the MCC. MiDA was represented by the Chairman of the Board, Professor Samuel Sefa-Dedeh, the Boards of Compact 1 & 2, the Chief Executive-Officer of MiDA, Ing. Owura Sarfo, Management and Employees.

The Chairman of the Forum,  Professor, Dr Kwesi Botchway, who is also the Board Chairman of the National Development Planning Commission (NDPC) and the Ghana National Gas Company (GNGC). Professor Botchway affirmed the Government of Ghana’s commitment to Compact 2, the Power Compact.

The Keynote address was delivered by Hon. Akwasi Opong-Fosu who reiterated that at the heart of Compact 2 is a strong commitment from the Government of Ghana to implement reforms needed to transform the power sector and put it on a path to solvency and sustainability, ultimately creating an investment climate that will attract private investment.

The Chief Executive Officer of MiDA, Ing. Owura K Sarfo shared details of the roadmap in the preparations for Compact 2. He stated that he was confident that preparations for Compact 2 were progressing well.

Awards were presented to H.E former President J.A Kufuor in recognition of his visionary leadership and immense contribution to the development and success of the Ghana Compact 1. Other recipients were the Chairman of the MiDA Board during Compact 1, Professor Samuel Sefa-Dedeh, Martin Eson-Benjamin and Matthew Armah, former CEO and COO under Compact 1 respectively. The Board and Management of MiDA presented an award to the MCC in appreciation of the effective collaboration and immense role that greatly contributed to the success of Ghana Compact