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Wednesday, December 7, 2022

MCC Vows Support to Sierra Leone Compact Development

HomeNewsMCC Vows Support to Sierra Leone Compact Development

MCC Vows Support to Sierra Leone Compact Development

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The Millennium Challenge Corporation (MCC) has expressed commitment to supporting Sierra Leone’s compact development process and willingness to promote private sector participation in addressing challenges in the energy sector.

The assurance was made by the new Chief Executive Officer of the MCC, Alice Albright, in a productive bilateral meeting with His Excellency President Dr Julius Maada Bio on the margins of the 77th United Nations General Assembly.

She updated the President on the various stages of the compact development process and commended his leadership for the satisfactory progress made so far.

The National Coordinator, Sierra Leone Compact Development Unit, Ndeye Koroma, explained some of the challenges in the energy sector and the plan of the government to mobilise donor partners and private investments in the energy sector.

In response, President Julius Maada Bio expressed his commitment to the development of the compact, adding that the process would be transparent and credible.

He also assured the MCC CEO that his government would continue to improve on the MCC scorecard despite the challenging circumstances. He highlighted the progress he had made on legislative reforms, investment in human capital development and the protection and empowerment of women and girls.

“We are eagerly waiting for the completion of the compact development process,” President Bio stated.

Earlier this year the MCC, which is an innovative and independent U.S. foreign assistance agency that is helping lead the fight against global poverty, notified the Government of Sierra Leone of its plans to finance critical feasibility studies to further develop and design the proposed Sierra Leone compact in four areas of opportunity, including assessing the expected impact of the proposed compact, furthering design activities, and developing implementation strategies.

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