Ghana and Georgia are qualified for second compacts, while Malawi is due to receive USD350.7 million over five years from the Millennium Challenge Corp.
The decisions came during a meeting of MCC’s board of directors on Jan. 5.
Ghana and Georgia’s second compacts, according to an MCC news release, “are contingent on successful completion of first compacts, continued good policy performance, development of proposals that have significant potential to promote economic growth and reduce poverty, and availability of funding.”
The agency’s board has also allowed Cape Verde, Indonesia and Zambia to continue developing compacts in fiscal 2011.
Meantime, Malawi’s USD350.7 million compact includes USD283 million for upgrading the country’s energy infrastructure and increasing the efficiency of hydropower generation. The remaining USD25.7 million will be used to improve the capacity of national institutions such as the Electricity Supply Corporation of Malawi, Malawi Energy Regulatory Authority and Ministry of Natural Resources Energy and the Environment.