President John Mahama on Monday, September 22 held discussions with the Chief Executive of the Millennium Challenge Corporation (MCC), Dana Hyde, in New York, United States of America.

The meeting, which was also attended by Foreign Affairs Minister Hannah Tetteh, is a follow-up to last month’s signing of the Second Compact for Ghana.

The MCC is investing $498.2 million to transform Ghana's power sector and also stimulate private investment, a statement from the Presidency said.

“At the end of the five-year Ghana Power Compact, Ghana is expected to have a financially viable power sector to meet current and future energy needs of households and businesses.”

President Mahama is in the US for 69th Session of the United Nations General Assembly.

He is scheduled to meet with the US/Ghana Chamber of Commerce later on Monday. He will also address an Investment Working Lunch of African Heads of State and Government.