Ghana to enjoy $34m under MCA this year

Accra, July 12, GNA - Ghana would start enjoying 311.0 billion cedis (34 million dollars) this year as benefit under the Millennium Challenge Account (MCA) advanced by President George Bush of the United States.

Presenting a Supplementary Budget to Parliament mainly on inflows from the MDRI, Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning, said the amount was to be used purely on programmed activities in the agriculture sector.

The total amount to Ghana over a five-year period is aimed at anti-poverty programmes targeting the rural poor in Ghana. Mr Baah Wiredu said the amount would be used to support the Government's programme to accelerate growth and poverty reduction in twenty-two selected districts.

Ghana's MCA Compact, indicating how the funds are to be utilized was drawn from the Growth Poverty Reduction Strategy (GPRS) II and focuses on the transformation of the agriculture sector, including associated infrastructural support.

The Compact has been approved by the MCA Board. The Compact would benefit more than one million Ghanaians and focus on rural agriculture, transportation and community development initiatives.

The Compact components would raise the income potential of farmers through increased production of high-value cash and basic food crops, an improved transportation network and development of food processing industries and handling facilities.

The five-year programme would include initiatives to improve land tenure and access to credit for small farmers and agribusiness. It includes interventions to improve access to education, water and sanitation and electricity in the areas participating in the programme.