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President inaugurates new MiDA board



President John Mahama has inaugurated a new 13-member governing board for the Millennium Development Authority (MiDA). Chaired by Professor Sefa Dedeh, the board has representatives from the Energy & Petroleum, Power, Trade & Industry, Finance, Gender, Children & Social Protection Ministries.

Also on the board are Prosper Adabla, George Ahiadzi, Tony Oteng Gyasi as well as representatives from the Electricity Company of Ghana, Northern Electricity Distribution Company (NEDCO) and the CEO of the Millennium Development Authority.

The new MiDA board is expected to execute Ghana’s programme under the new Compact signed in August 2014. The US$498.2 million Compact has been dedicated to the country’s power sector to ensure the expansion and stability of power supply in our country.

President Mahama charged them to work quickly and provide the required leadership that will enable the country access the first tranche of the financing under the new MCC Compact.

“I wish to charge the Board to work as a team and to provide the needed leadership to MiDA. We were successful in the first Compact and we are expecting even greater success for this second Compact”, he noted.

Below is unedited President Mahama’s full remarks at the inauguration of the new MiDA Board:

Let me welcome the incoming Board of MiDA and to thank you for accepting to serve your country in this new position.

As you are aware, Ghana successfully implemented the first Compact, which was aimed at expanding agricultural production and food security. Today, we are swearing in the incoming Board of MiDA to oversee the implementation of a second Compact. This second Compact is focused and dedicated to ensuring the expansion and stability of power supply in our country.

This Compact was signed in August 2014 and government designated the Millennium Development Authority as the accountable entity to implement the programme. So we carried out an amendment of the existing MiDA law and have positioned it to exercise and perform government’s rights and obligations to oversee, manage and implement, and without limitations, manage the implementation of the project, their activities, allocating resources and managing procurements.

One of the critical actions expected from the Government of Ghana under the MCC is the establishment of this Board, which we are doing today. The Board of Directors will have ultimate responsibility for oversight, direction and decisions of MiDA as well as the overall implementation of the Compact.

Since the signing of the Compact there have been various actions taken to prepare to receive the first tranche of Compact funds. These include completion of the competitive process for the selection of a fiscal agent; completion of the competitive process for the selection of a procurement agent, the selection of a fiduciary bank and process for selection of staff of MiDA is ongoing.

The varied professional backgrounds and expertise of the Board members will be needed for the guidance, direction and oversight of MiDA to ensure that this Millennium Challenge Compact is properly used to execute the agreed programmes and catalyse the economic growth of Ghana through the provision of reliable power.

As members of the Board, I am informed that some critical actions and decisions are required for disbursement of the first tranche of grants. These include review and approval of the fiscal accountability plan, review and approval of the CIF procurement plan and other conditions precedent. So it is my hope that the board will turn its attention to these conditions so that we can have an early start to the implementation of the new Compact.

I am looking forward to your leadership and effort to get these matters receive your immediate attention to allow Ghana receive the first tranche of the financing. I wish to charge the Board to work as a team and to provide the needed leadership to MiDA. We were successful in the first Compact and we are expecting even greater success for this second Compact.

Congratulations once again.

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