President Nana Akufo-Addo has sworn into office the 11-member Board – voting members – of the Millennium Development Authority (MiDA) at a ceremony held at the Presidency on Monday.
The Board, which is chaired by chaired Prof. Yaa Ntiamoah Baidu, was tasked by President Akufo-Addo to ensure the full implementation of the Second Compact.
This follows the successful execution of the first compact of $540 million, which was channeled towards the restructuring and transformation of Ghana’s agricultural system, as well as the development of some critical road
According to the President, the second compact “has the specific goal of enabling us to overcome one of the major challenges we have in the development of our country, that is the flow of reliable, stable power, both for our economic and personal development. It is a very critical intervention the Millennium Challenge Corporation (MCC) is making in the life of our country.”
The MCC will invest up to $498.2 million to transform Ghana’s power sector and stimulate private investment. The aim of the five-year Ghana Power Compact is to create a financially viable power sector to meet the current and future needs of households and businesses, and to help fight poverty across the country
To this end, President Akufo-Addo has charged the newly sworn-in Board “to make sure that the objectives of the compact are achieved. The 11-members of this board, who have the voting rights, bear the principal responsibility for ensuring that the objectives of the MiDAare achieved.”
He added that “the Ghanaian people must have confidence in the board that has been assigned this important task. You have a chairman of renown, internationally recognized authority in her field as a zoologist, environmental specialist and building of institutional capacity, and is a very distinguished Ghanaian citizen.”